SoFi Technologies Sees Unusually High Options Volume (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI) was the target of unusually large options trading on Friday. Traders bought 571,139 call options on the company. This is an increase of approximately 104% compared to the typical volume of 279,622 call options.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Jefferies Financial Group raised their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Needham & Company LLC boosted their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies has an average rating of “Hold” and an average price target of $9.32.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the sale, the executive vice president now owns 152,203 shares of the company’s stock, valued at $1,576,823.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the transaction, the executive vice president now directly owns 152,203 shares in the company, valued at approximately $1,576,823.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,636 shares of company stock valued at $904,677. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently made changes to their positions in SOFI. ORG Partners LLC bought a new position in SoFi Technologies in the 1st quarter valued at $27,000. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies in the third quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Waldron Private Wealth LLC bought a new stake in SoFi Technologies during the third quarter worth about $39,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $13.01 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. SoFi Technologies has a one year low of $6.01 and a one year high of $13.01. The business’s 50-day simple moving average is $8.98 and its 200 day simple moving average is $7.68. The company has a market cap of $13.87 billion, a P/E ratio of 130.10, a PEG ratio of 1.79 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.79% and a net margin of 8.38%. The company had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter last year, the firm earned ($0.03) EPS. The business’s revenue was up 29.8% on a year-over-year basis. On average, sell-side analysts forecast that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

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.