SoFi Technologies (NASDAQ:SOFI) Shares Up 2.9% – Here’s What Happened

by · The Markets Daily

SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report)’s share price traded up 2.9% on Tuesday . The stock traded as high as $26.74 and last traded at $26.58. 43,999,151 shares changed hands during trading, a decline of 32% from the average session volume of 64,255,156 shares. The stock had previously closed at $25.82.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SOFI. Barclays upped their target price on SoFi Technologies from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Citigroup upped their price target on shares of SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods boosted their price objective on shares of SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, October 29th. BTIG Research restated a “neutral” rating on shares of SoFi Technologies in a research report on Wednesday, October 29th. Finally, UBS Group increased their price target on shares of SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.69.

View Our Latest Stock Analysis on SoFi Technologies

SoFi Technologies Stock Up 4.0%

The company has a fifty day simple moving average of $28.16 and a 200 day simple moving average of $24.13. The firm has a market capitalization of $31.70 billion, a P/E ratio of 48.69 and a beta of 1.93. The company has a quick ratio of 0.16, a current ratio of 0.80 and a debt-to-equity ratio of 0.31.

SoFi Technologies (NASDAQ:SOFI – Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The business had revenue of $949.63 million for the quarter, compared to the consensus estimate of $880.33 million. During the same period last year, the business posted $0.05 EPS. The company’s revenue was up 37.7% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, equities analysts expect 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 10,340 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $26.43, for a total value of $273,286.20. Following the transaction, the executive vice president owned 265,034 shares of the company’s stock, valued at approximately $7,004,848.62. The trade was a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Arun Pinto sold 46,132 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $24.76, for a total value of $1,142,228.32. Following the transaction, the insider directly owned 138,396 shares of the company’s stock, valued at approximately $3,426,684.96. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 66,508 shares of company stock worth $1,699,834. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. SVB Wealth LLC purchased a new stake in shares of SoFi Technologies during the 1st quarter worth $28,000. Salomon & Ludwin LLC acquired a new stake in SoFi Technologies during the 3rd quarter valued at approximately $29,000. SJS Investment Consulting Inc. boosted its holdings in SoFi Technologies by 840.3% in the third quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in SoFi Technologies by 693.5% during the third quarter. Strategic Investment Solutions Inc. IL now owns 1,230 shares of the company’s stock worth $32,000 after acquiring an additional 1,075 shares during the period. 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 currently owned by institutional investors.

About SoFi Technologies

(Get Free Report)

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.

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