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

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SOFI shares. Barclays lifted their price objective on SoFi Technologies from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. BTIG Research reaffirmed a “neutral” rating on shares of SoFi Technologies in a research report on Wednesday, October 29th. UBS Group upped their price target on SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.88.

SoFi Technologies Price Performance

The stock has a market cap of $33.50 billion, a P/E ratio of 51.45, a price-to-earnings-growth ratio of 2.90 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 company’s fifty day simple moving average is $28.20 and its 200-day simple moving average is $23.29.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. 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 business earned $0.05 EPS. The firm’s revenue was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 98,733 shares of the firm’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 completion of the transaction, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Arun Pinto sold 46,132 shares of SoFi Technologies stock in a transaction 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 175,277 shares of company stock valued at $4,694,595. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several large investors have recently added to or reduced their stakes in SOFI. Norges Bank bought a new stake in SoFi Technologies during the 2nd quarter worth about $164,068,000. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 6.8% in the third quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock worth $2,829,640,000 after acquiring an additional 6,814,727 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of SoFi Technologies during the second quarter worth approximately $115,188,000. State Street Corp grew its stake in shares of SoFi Technologies by 30.7% during the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock valued at $642,019,000 after purchasing an additional 5,708,053 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of SoFi Technologies in the first quarter valued at approximately $47,616,000. 38.43% of the stock is owned by institutional investors.

About SoFi Technologies

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.