SoFi Technologies Target of Unusually Large Options Trading (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) was the target of unusually large options trading activity on Tuesday. Traders bought 513,876 call options on the company. This represents an increase of 66% compared to the average daily volume of 309,842 call options.

SoFi Technologies Price Performance

SOFI stock traded up $0.60 during midday trading on Tuesday, reaching $19.84. The company had a trading volume of 78,052,385 shares, compared to its average volume of 52,594,884. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $20.87. The company has a market capitalization of $21.93 billion, a P/E ratio of 48.39, a P/E/G ratio of 3.15 and a beta of 1.91. The firm has a 50-day moving average price of $14.52 and a 200-day moving average price of $14.05.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The business's quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 EPS. On average, research analysts anticipate that SoFi Technologies will post 0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SOFI has been the topic of a number of recent analyst reports. Truist Financial started coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They issued a "hold" rating and a $14.00 price objective on the stock. Citizens Jmp initiated coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They issued an "outperform" rating and a $17.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Stephens initiated coverage on shares of SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 target price for the company. Finally, Barclays lifted their target price on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus price target of $14.73.

Insiders Place Their Bets

In other news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the transaction, the director directly owned 289,258 shares in the company, valued at $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies 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 transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 274,095 shares of company stock worth $3,939,168. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Berkshire Capital Holdings Inc. raised its holdings in SoFi Technologies by 6,208,000.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock valued at $9,560,000 after buying an additional 620,800 shares during the last quarter. CMG Global Holdings LLC raised its holdings in SoFi Technologies by 77.8% during the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after buying an additional 61,443 shares during the last quarter. Midwest Professional Planners LTD. bought a new stake in SoFi Technologies during the 4th quarter valued at $836,000. Geode Capital Management LLC raised its holdings in SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after buying an additional 315,899 shares during the last quarter. Finally, Sowell Financial Services LLC bought a new stake in SoFi Technologies during the 1st quarter valued at $259,000. 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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