SoFi Technologies (NASDAQ:SOFI) Stock Price Up 6.6% - Here's What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded up 6.6% on Tuesday . The company traded as high as $17.72 and last traded at $17.59. 26,712,616 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 38,293,355 shares. The stock had previously closed at $16.50.

Analyst Ratings Changes

A number of analysts recently commented on SOFI shares. Bank of America reaffirmed an "underperform" rating and set a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Citigroup increased their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Mizuho increased their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Jefferies Financial Group boosted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $11.71.

SoFi Technologies Price Performance

The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The business's 50 day moving average price is $15.53 and its two-hundred day moving average price is $10.89. The stock has a market cap of $19.57 billion, a P/E ratio of 180.32, a price-to-earnings-growth ratio of 1.21 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. During the same period in the previous year, the firm posted ($0.03) EPS. The business's revenue was up 29.8% on a year-over-year basis. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Eric Schuppenhauer purchased 30,600 shares of SoFi Technologies stock in a transaction dated Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the acquisition, the executive vice president now directly owns 46,105 shares of the company's stock, valued at $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bashir Ruzwana sold 52,000 shares of the company's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the transaction, the director now owns 25,937 shares in the company, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,999,956 shares of company stock worth $416,793,365. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of SOFI. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $27,000. Brooklyn Investment Group purchased a new position in SoFi Technologies in the third quarter worth about $28,000. FNY Investment Advisers LLC grew its stake in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after purchasing an additional 1,905 shares during the period. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $47,000. 38.43% of the stock is currently owned by institutional investors.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.

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