SoFi Technologies (NASDAQ:SOFI) Sets New 52-Week High – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $32.73 and last traded at $31.8910, with a volume of 31620181 shares. The stock had previously closed at $30.95.

Analysts Set New Price Targets

SOFI has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. BTIG Research reiterated a “neutral” rating on shares of SoFi Technologies in a research note on Wednesday, October 29th. Citigroup boosted their target price on shares of SoFi Technologies from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Barclays raised their price target on shares of SoFi Technologies from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and an average target price of $25.06.

SoFi Technologies Price Performance

The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.31. The firm has a market cap of $33.55 billion, a PE ratio of 51.52, a price-to-earnings-growth ratio of 2.77 and a beta of 1.93. The stock has a 50 day moving average price of $28.12 and a two-hundred day moving average price of $21.77.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The company had revenue of $949.63 million during the quarter, compared to analysts’ expectations of $880.33 million. During the same period last year, the business earned $0.05 EPS. SoFi Technologies’s revenue for the quarter was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, equities analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 10,578 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total value of $234,091.14. Following the sale, the executive vice president owned 234,622 shares in the company, valued at $5,192,184.86. This represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the transaction, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 129,383 shares of company stock worth $3,513,171. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Xcel Wealth Management LLC lifted its holdings in shares of SoFi Technologies by 0.6% in the 3rd quarter. Xcel Wealth Management LLC now owns 70,932 shares of the company’s stock valued at $1,874,000 after buying an additional 392 shares during the period. Key Client Fiduciary Advisors LLC raised its position in SoFi Technologies by 3.1% during the third quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company’s stock valued at $373,000 after acquiring an additional 419 shares in the last quarter. Assetmark Inc. lifted its holdings in SoFi Technologies by 50.5% in the third quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock valued at $34,000 after acquiring an additional 427 shares during the period. Cigna Investments Inc. New boosted its position in SoFi Technologies by 4.2% in the 3rd quarter. Cigna Investments Inc. New now owns 11,024 shares of the company’s stock worth $291,000 after purchasing an additional 446 shares in the last quarter. Finally, Blume Capital Management Inc. grew its stake in shares of SoFi Technologies by 52.9% during the 3rd quarter. Blume Capital Management Inc. now owns 1,300 shares of the company’s stock worth $34,000 after purchasing an additional 450 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

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.