SoFi Technologies (NASDAQ:SOFI) Trading Up 0.1% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price rose 0.1% on Tuesday . The company traded as high as $11.05 and last traded at $10.83. Approximately 9,543,044 shares were traded during trading, a decline of 79% from the average daily volume of 45,900,691 shares. The stock had previously closed at $10.82.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of analyst reports. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. UBS Group boosted their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Morgan Stanley raised their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Trading Down 2.6 %

The firm has a market cap of $11.69 billion, a PE ratio of 28.81, a P/E/G ratio of 2.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a 50 day simple moving average of $12.76 and a two-hundred day simple moving average of $13.44.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period in the prior year, the firm posted $0.04 EPS. Analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,905 shares of company stock valued at $1,308,075 over the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Berkshire Capital Holdings Inc. boosted its position in SoFi Technologies by 6,208,000.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company’s stock worth $9,560,000 after purchasing an additional 620,800 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in SoFi Technologies in the 4th quarter valued at $3,703,000. Hanseatic Management Services Inc. acquired a new position in SoFi Technologies during the fourth quarter worth $1,116,000. Kercheville Advisors LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $1,594,000. Finally, Baltimore Washington Financial Advisors Inc. increased its stake in shares of SoFi Technologies by 12.9% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 592,930 shares of the company’s stock worth $9,131,000 after purchasing an additional 67,779 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.