SoFi Technologies (NASDAQ:SOFI) Stock Price Up 3% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded up 3% during trading on Friday . The company traded as high as $11.05 and last traded at $10.98. 46,704,309 shares traded hands during mid-day trading, an increase of 1% from the average session volume of 46,149,491 shares. The stock had previously closed at $10.66.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SOFI shares. Citigroup upped their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. UBS Group raised their price objective on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Needham & Company LLC raised their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Trading Up 3.0 %

The firm’s 50-day simple moving average is $12.60 and its 200 day simple moving average is $13.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating 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 last year, the firm earned $0.04 EPS. Equities analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,905 shares of company stock worth $1,308,075 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Berkshire Capital Holdings Inc. raised its position in shares of 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 acquiring an additional 620,800 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of SoFi Technologies in the 4th quarter worth approximately $3,703,000. Hanseatic Management Services Inc. bought a new stake in shares of SoFi Technologies in the 4th quarter valued at $1,116,000. Kercheville Advisors LLC acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $1,594,000. Finally, Baltimore Washington Financial Advisors Inc. raised its stake in 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 buying an additional 67,779 shares during the last quarter. 38.43% of the stock is 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.