SoFi Technologies Sees Unusually High Options Volume (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) saw unusually large options trading activity on Friday. Stock traders purchased 377,359 call options on the company. This represents an increase of approximately 36% compared to the typical volume of 277,934 call options.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 11,520 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total transaction of $154,137.60. Following the completion of the sale, the executive vice president now directly owns 203,509 shares of the company's stock, valued at $2,722,950.42. This trade represents a 5.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. The trade was a 9.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,507 shares of company stock worth $1,283,528 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the stock. Strs Ohio bought a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $984,000. Intech Investment Management LLC lifted its position in SoFi Technologies by 12.5% in the first quarter. Intech Investment Management LLC now owns 180,798 shares of the company's stock worth $2,103,000 after purchasing an additional 20,056 shares during the period. Focus Partners Wealth lifted its position in SoFi Technologies by 4.3% in the first quarter. Focus Partners Wealth now owns 314,342 shares of the company's stock worth $3,656,000 after purchasing an additional 12,831 shares during the period. Integrity Alliance LLC. acquired a new stake in SoFi Technologies during the first quarter worth $187,000. Finally, Bayforest Capital Ltd acquired a new stake in SoFi Technologies during the first quarter worth $490,000. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Stock Performance

Shares of SOFI stock traded up $0.57 during trading hours on Friday, reaching $14.24. 63,048,323 shares of the company's stock were exchanged, compared to its average volume of 53,953,996. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $15.74 billion, a P/E ratio of 38.49, a P/E/G ratio of 2.24 and a beta of 1.82. The business has a fifty day moving average price of $12.33 and a 200-day moving average price of $14.02.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The business had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. SoFi Technologies's revenue was up 32.7% compared to the same quarter last year. Analysts predict that SoFi Technologies will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SOFI. Citizens Jmp started coverage on shares of SoFi Technologies in a report on Friday, April 25th. They set an "outperform" rating and a $17.00 price target on the stock. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Truist Financial started coverage on SoFi Technologies in a report on Monday. They set a "hold" rating and a $14.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. Finally, JMP Securities initiated coverage on SoFi Technologies in a report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $14.36.

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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