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

Key Points

• SoFi Technologies experienced a significant increase in options trading, with investors buying 415,118 call options, an 8% increase compared to the daily average.
• Insider transactions revealed that CTO Jeremy Rishel and Director Magdalena Yesil have sold a substantial number of shares, leading to a decrease in their ownership stakes of 8.45% and 23.15%, respectively.
• SoFi Technologies shares reached $25.03 during midday trading, marking a 7.3% increase in value, with total shares traded significantly exceeding its average volume.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) was the target of unusually large options trading activity on Friday. Investors bought 415,118 call options on the company. Thisisanincreaseofapproximately8% compared to the typical daily volume of 384,753 call options.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the sale, the chief technology officer owned 724,321 shares of the company's stock, valued at $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the sale, the director directly owned 289,258 shares of the company's stock, valued at $4,162,422.62. This represents a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 272,239 shares of company stock valued at $4,123,194 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently modified their holdings of SOFI. Hazlett Burt & Watson Inc. raised its stake in shares of SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after buying an additional 2,200 shares during the period. Headlands Technologies LLC purchased a new position in SoFi Technologies during the 1st quarter valued at approximately $28,000. SVB Wealth LLC purchased a new position in SoFi Technologies during the 1st quarter valued at approximately $28,000. Garde Capital Inc. purchased a new position in SoFi Technologies during the 1st quarter valued at approximately $31,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of SoFi Technologies in the 4th quarter worth approximately $32,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Trading Up 7.3%

Shares of SoFi Technologies stock traded up $1.7030 during midday trading on Friday, reaching $25.0330. 85,413,063 shares of the company's stock traded hands, compared to its average volume of 60,650,648. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The company has a market cap of $29.98 billion, a PE ratio of 52.12, a price-to-earnings-growth ratio of 2.79 and a beta of 1.93. The stock has a 50 day moving average of $20.10 and a 200-day moving average of $15.47. SoFi Technologies has a 12 month low of $6.75 and a 12 month high of $25.25.

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

Analyst Ratings Changes

Several analysts recently issued reports on SOFI shares. Citigroup lifted their price target on shares of SoFi Technologies from $18.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday. Redburn Atlantic upgraded SoFi Technologies to a "hold" rating in a research note on Friday, August 1st. UBS Group boosted their price objective on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Barclays lifted their target price on SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Finally, Citizens Jmp lowered SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.35.

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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