SoFi Technologies (NASDAQ:SOFI) Shares Gap Up – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) gapped up before the market opened on Monday . The stock had previously closed at $12.88, but opened at $13.24. SoFi Technologies shares last traded at $13.20, with a volume of 12,613,253 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SOFI shares. UBS Group lifted their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Citigroup raised their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group boosted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.10.

SoFi Technologies Trading Up 0.0 %

The business has a 50 day simple moving average of $12.20 and a two-hundred day simple moving average of $13.68. The company has a market cap of $14.12 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its 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 return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the business earned $0.04 earnings per share. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction 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 transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 9,185 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the transaction, the executive vice president now owns 169,626 shares of the company’s stock, valued at approximately $2,617,329.18. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,172 shares of company stock worth $1,271,115. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently bought and sold shares of SOFI. Elequin Capital LP raised its stake in shares of SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock worth $42,000 after buying an additional 631 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock worth $881,000 after purchasing an additional 685 shares in the last quarter. Procyon Advisors LLC boosted its stake in shares of SoFi Technologies by 8.0% during the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock worth $208,000 after buying an additional 1,000 shares during the last quarter. Game Plan Financial Advisors LLC boosted its position in SoFi Technologies by 13.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock valued at $128,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Bank of New Hampshire lifted its stake in SoFi Technologies by 33.3% in the first quarter. Bank of New Hampshire now owns 4,000 shares of the company’s stock valued at $47,000 after acquiring an additional 1,000 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Company Profile

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.