SoFi Technologies (NASDAQ:SOFI) Trading 1.8% Higher – Here’s What Happened

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 1.8% on Thursday . The company traded as high as $29.70 and last traded at $29.60. 57,525,684 shares changed hands during trading, a decline of 10% from the average session volume of 64,221,746 shares. The stock had previously closed at $29.07.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SOFI shares. Mizuho set a $38.00 target price on SoFi Technologies in a research note on Thursday, October 30th. Jefferies Financial Group restated a “buy” rating and issued a $35.00 price objective on shares of SoFi Technologies in a research note on Tuesday, October 28th. Truist Financial decreased their target price on shares of SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Tuesday, November 25th. BTIG Research reissued a “neutral” rating on shares of SoFi Technologies in a research note on Wednesday, October 29th. Finally, Needham & Company LLC raised their price target on shares of SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.88.

SoFi Technologies Trading Up 1.8%

The stock has a market cap of $35.69 billion, a P/E ratio of 54.82, a price-to-earnings-growth ratio of 2.88 and a beta of 1.93. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The business’s fifty day simple moving average is $28.18 and its 200 day simple moving average is $23.14.

SoFi Technologies (NASDAQ:SOFI) last released 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. The company had revenue of $949.63 million during the quarter, compared to analysts’ expectations of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The business’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same period last year, the firm earned $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other news, insider Arun Pinto sold 46,132 shares of SoFi Technologies stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the completion of the sale, the insider owned 138,396 shares in the company, valued at $3,426,684.96. The trade was a 25.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeremy Rishel sold 98,733 shares of the business’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 175,277 shares of company stock valued at $4,694,595. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

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