SoFi Technologies Target of Unusually Large Options Trading (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI) was the target of some unusual options trading activity on Friday. Stock traders acquired 370,614 call options on the stock. This represents an increase of approximately 53% compared to the average volume of 242,278 call options.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the sale, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after purchasing an additional 5,057,233 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of SoFi Technologies by 176.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after purchasing an additional 6,870,610 shares during the period. Norges Bank bought a new stake in shares of SoFi Technologies during the 4th quarter valued at about $71,349,000. Charles Schwab Investment Management Inc. grew its stake in shares of SoFi Technologies by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock valued at $54,659,000 after purchasing an additional 199,949 shares during the period. Finally, Northern Trust Corp grew its stake in shares of SoFi Technologies by 15.4% during the 3rd quarter. Northern Trust Corp now owns 4,371,786 shares of the company’s stock valued at $34,931,000 after purchasing an additional 584,335 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SOFI. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Mizuho dropped their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Citigroup began coverage on shares of SoFi Technologies in a report on Monday, April 8th. They set a “buy” rating and a $11.00 target price on the stock. Jefferies Financial Group dropped their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Finally, Wedbush restated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a report on Wednesday, March 6th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus target price of $9.08.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $7.87 on Friday. SoFi Technologies has a fifty-two week low of $4.45 and a fifty-two week high of $11.70. The business has a 50-day simple moving average of $7.64 and a two-hundred day simple moving average of $7.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of -20.71 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business had revenue of $615.40 million during the quarter, compared to analyst estimates of $572.02 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. SoFi Technologies’s revenue was up 34.7% on a year-over-year basis. On average, analysts expect that SoFi Technologies will post 0.08 earnings per share for the current year.

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.