SoFi Technologies (NASDAQ:SOFI) Trading Up 8.3% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price shot up 8.3% during mid-day trading on Monday . The stock traded as high as $30.97 and last traded at $30.54. 92,832,354 shares traded hands during trading, an increase of 46% from the average session volume of 63,784,332 shares. The stock had previously closed at $28.21.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SOFI. Needham & Company LLC increased their target price on SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. BTIG Research reissued a “neutral” rating on shares of SoFi Technologies in a research report on Wednesday, October 29th. Morgan Stanley raised their price objective on SoFi Technologies from $13.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Finally, Redburn Atlantic raised shares of SoFi Technologies to a “hold” rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $25.06.

SoFi Technologies Stock Up 8.3%

The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The business has a 50 day simple moving average of $27.64 and a 200 day simple moving average of $21.30. The stock has a market cap of $36.57 billion, a PE ratio of 56.56, a P/E/G ratio of 2.75 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $949.63 million during the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a return on equity of 5.52% and a net margin of 19.29%.The firm’s revenue was up 37.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 10,036 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $28.33, for a total transaction of $284,319.88. Following the transaction, the executive vice president owned 275,374 shares in the company, valued at approximately $7,801,345.42. This trade represents a 3.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeremy Rishel sold 98,733 shares of the company’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 completion of the sale, the chief technology officer owned 759,553 shares of the company’s stock, valued at $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 129,383 shares of company stock valued at $3,513,171 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in SOFI. Vanguard Group Inc. increased its holdings in shares of SoFi Technologies by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock valued at $2,829,640,000 after acquiring an additional 6,814,727 shares during the last quarter. Norges Bank bought a new stake in SoFi Technologies during the second quarter worth approximately $164,068,000. Marshall Wace LLP grew its holdings in SoFi Technologies by 88.2% during the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock valued at $145,628,000 after purchasing an additional 3,748,817 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of SoFi Technologies by 2.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 6,628,309 shares of the company’s stock valued at $120,702,000 after purchasing an additional 155,583 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of SoFi Technologies by 87.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,361,809 shares of the company’s stock worth $168,079,000 after buying an additional 2,961,849 shares during 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.