SoFi Technologies (NASDAQ:SOFI) Shares Up 1.1% – Here’s What Happened

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were up 1.1% on Friday . The company traded as high as $25.45 and last traded at $25.19. Approximately 88,939,849 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 64,639,957 shares. The stock had previously closed at $24.91.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Rothschild & Co Redburn initiated coverage on shares of SoFi Technologies in a research note on Friday, August 1st. They set a “neutral” rating and a $20.50 price target for the company. Barclays increased their price objective on SoFi Technologies from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Redburn Atlantic upgraded SoFi Technologies to a “hold” rating in a research note on Friday, August 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $35.00 price target on shares of SoFi Technologies in a research report on Tuesday, October 28th. Finally, UBS Group lifted their target price on shares of SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. 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 issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.06.

SoFi Technologies Trading Up 1.1%

The stock has a market capitalization of $30.38 billion, a P/E ratio of 46.65, a price-to-earnings-growth ratio of 2.61 and a beta of 1.93. The stock’s fifty day moving average price is $28.15 and its two-hundred day moving average price is $22.15. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results 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 net margin of 19.29% and a return on equity of 5.12%. The company had revenue of $949.63 million for the quarter, compared to analysts’ expectations of $880.33 million. During the same quarter last year, the company earned $0.05 EPS. The firm’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. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In related news, CTO Jeremy Rishel sold 98,733 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 10,036 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $28.33, for a total value of $284,319.88. Following the transaction, the executive vice president directly owned 275,374 shares of the company’s stock, valued at $7,801,345.42. The trade was a 3.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 118,805 shares of company stock valued at $3,279,080. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in shares of SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after acquiring an additional 14,281 shares in the last quarter. Victory Capital Management Inc. increased its position in SoFi Technologies by 34.0% during the 1st quarter. Victory Capital Management Inc. now owns 352,482 shares of the company’s stock valued at $4,099,000 after purchasing an additional 89,503 shares during the period. Kestra Private Wealth Services LLC increased its position in SoFi Technologies by 247.8% during the 1st quarter. Kestra Private Wealth Services LLC now owns 59,756 shares of the company’s stock valued at $695,000 after purchasing an additional 42,575 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in SoFi Technologies in the 1st quarter worth $3,941,000. Finally, KLP Kapitalforvaltning AS lifted its position in shares of SoFi Technologies by 2.0% in the 1st quarter. KLP Kapitalforvaltning AS now owns 209,100 shares of the company’s stock worth $2,432,000 after purchasing an additional 4,100 shares during the period. 38.43% of the stock is owned by hedge funds and other 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.