SoFi Technologies (NASDAQ:SOFI) Shares Up 4% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFIGet Free Report) shot up 4% during trading on Thursday . The stock traded as high as $26.72 and last traded at $26.29. 44,854,219 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 64,117,414 shares. The stock had previously closed at $25.27.

Key Stores Impacting SoFi Technologies

Here are the key news stories impacting SoFi Technologies this week:

Analysts Set New Price Targets

A number of analysts have issued reports on SOFI shares. Barclays lifted their target price on shares of SoFi Technologies from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Mizuho set a $38.00 price objective on shares of SoFi Technologies in a research note on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of SoFi Technologies in a report on Wednesday, October 8th. Truist Financial cut their target price on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, November 25th. Finally, Keefe, Bruyette & Woods boosted their price target on SoFi Technologies from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.69.

Get Our Latest Report on SoFi Technologies

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. The stock’s 50-day simple moving average is $28.18 and its two-hundred day simple moving average is $24.22. The stock has a market cap of $32.85 billion, a price-to-earnings ratio of 50.45 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last posted its quarterly earnings data 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 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 analyst estimates of $880.33 million. During the same period in the previous year, the company posted $0.05 earnings per share. The firm’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. Analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Arun Pinto sold 46,132 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $24.76, for a total value of $1,142,228.32. Following the completion of the sale, the insider directly owned 138,396 shares of the company’s stock, valued at approximately $3,426,684.96. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 10,340 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $26.43, for a total transaction of $273,286.20. Following the completion of the sale, the executive vice president owned 265,034 shares in the company, valued at approximately $7,004,848.62. The trade was a 3.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 66,508 shares of company stock valued at $1,699,834. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SOFI. SJS Investment Consulting Inc. grew its position in SoFi Technologies by 840.3% during the third quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of SoFi Technologies in the 3rd quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL grew its holdings in shares of SoFi Technologies by 693.5% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 1,230 shares of the company’s stock worth $32,000 after purchasing an additional 1,075 shares in the last quarter. Assetmark Inc. increased its position in shares of SoFi Technologies by 50.5% during the third quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock valued at $34,000 after purchasing an additional 427 shares during the period. Finally, Blume Capital Management Inc. raised its stake in shares of 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 purchasing an additional 450 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.

Further Reading

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