SoFi Technologies (NASDAQ:SOFI) Trading Up 8.1% - What's Next?

Key Points

• SoFi Technologies' shares rose by 8.1% during mid-day trading, with the stock hitting a high of $28.93 before closing at $28.68.
• Several analysts have weighed in on SoFi, with an average rating of "Hold" and a consensus price target of $20.71, while Mizuho set a new price objective at $31.00.
• In insider activity, CTO Jeremy Rishel sold over 98,000 shares valued at approximately $2.7 million, representing an 11.50% decrease in his position.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shot up 8.1% during mid-day trading on Monday . The company traded as high as $28.93 and last traded at $28.68. Approximately 71,427,845 shares were traded during trading, an increase of 14% from the average session volume of 62,506,730 shares. The stock had previously closed at $26.54.

Wall Street Analyst Weigh In

A number of research firms recently commented on SOFI. Truist Financial set a $23.00 price objective on shares of SoFi Technologies in a research note on Monday, August 4th. TD Cowen started coverage on shares of SoFi Technologies in a report on Friday, July 11th. They set a "hold" rating and a $21.00 price target on the stock. Mizuho increased their price objective on SoFi Technologies from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Thursday, September 18th. Morgan Stanley increased their price objective on SoFi Technologies from $13.00 to $18.00 and gave the stock an "underweight" rating in a report on Monday, September 29th. Finally, Citizens Jmp lowered SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and a consensus price target of $20.71.

SoFi Technologies Stock Up 8.1%

The stock has a market cap of $34.34 billion, a P/E ratio of 59.75, a P/E/G ratio of 3.15 and a beta of 1.92. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The firm's fifty day moving average is $26.13 and its 200 day moving average is $19.27.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. During the same quarter last year, the firm posted $0.01 EPS. The business's quarterly revenue was up 42.8% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the transaction, the chief technology officer owned 759,553 shares in the company, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,578 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the transaction, the executive vice president owned 234,622 shares in the company, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,347 shares of company stock worth $3,228,852. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Key Client Fiduciary Advisors LLC grew its stake in SoFi Technologies by 3.1% during the third quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company's stock worth $373,000 after buying an additional 419 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in SoFi Technologies by 46.9% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 1,469 shares of the company's stock worth $39,000 after buying an additional 469 shares during the last quarter. Soltis Investment Advisors LLC grew its stake in SoFi Technologies by 1.8% during the second quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company's stock worth $518,000 after buying an additional 501 shares during the last quarter. AE Wealth Management LLC raised its holdings in SoFi Technologies by 2.8% in the second quarter. AE Wealth Management LLC now owns 18,620 shares of the company's stock worth $339,000 after purchasing an additional 514 shares during the period. Finally, Pathway Financial Advisers LLC raised its holdings in SoFi Technologies by 1.1% in the second quarter. Pathway Financial Advisers LLC now owns 47,319 shares of the company's stock worth $862,000 after purchasing an additional 537 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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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