SoFi Technologies (NASDAQ:SOFI) Trading Up 3.4% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 3.4% during mid-day trading on Tuesday . The company traded as high as $28.45 and last traded at $28.33. 56,095,076 shares changed hands during trading, a decline of 13% from the average session volume of 64,604,094 shares. The stock had previously closed at $27.40.

Analyst Upgrades and Downgrades

SOFI has been the topic of several recent analyst reports. Truist Financial reduced their target price on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Tuesday. The Goldman Sachs Group lifted their target price on SoFi Technologies from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Redburn Atlantic upgraded shares of SoFi Technologies to a “hold” rating in a report on Friday, August 1st. Weiss Ratings restated a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. Finally, Needham & Company LLC upped their price objective on shares of SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and an average price target of $24.88.

SoFi Technologies Trading Up 0.6%

The stock has a market cap of $34.36 billion, a PE ratio of 52.76, a price-to-earnings-growth ratio of 2.76 and a beta of 1.93. The company has a 50 day moving average of $28.16 and a two-hundred day moving average of $22.61. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.SoFi Technologies’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Arun Pinto sold 46,132 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $3,426,684.96. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 10,340 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $26.43, for a total transaction of $273,286.20. Following the transaction, the executive vice president owned 265,034 shares in the company, valued at $7,004,848.62. The trade was a 3.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 175,277 shares of company stock valued at $4,694,595 in the last 90 days. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. increased its stake in shares of SoFi Technologies by 840.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock worth $30,000 after acquiring an additional 1,000 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of SoFi Technologies in the third quarter valued at about $29,000. Assetmark Inc. increased its position in SoFi Technologies by 50.5% during the third quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock worth $34,000 after purchasing an additional 427 shares during the last quarter. Blume Capital Management Inc. raised its stake in SoFi Technologies by 52.9% during the third 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. Finally, Bessemer Group Inc. acquired a new position in SoFi Technologies in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.