Traders Purchase Large Volume of Call Options on SoFi Technologies (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI) was the target of unusually large options trading activity on Thursday. Stock traders acquired 351,903 call options on the company. This is an increase of approximately 49% compared to the typical daily volume of 235,859 call options.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,636 shares of company stock valued at $904,677 in the last quarter. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Stratos Wealth Advisors LLC grew its holdings in shares of SoFi Technologies by 3.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after acquiring an additional 1,054 shares in the last quarter. NBC Securities Inc. grew its stake in SoFi Technologies by 12.7% in the third quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after purchasing an additional 1,081 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in 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. Pegasus Asset Management Inc. increased its position in SoFi Technologies by 1.4% in the 3rd quarter. Pegasus Asset Management Inc. now owns 112,951 shares of the company’s stock worth $888,000 after purchasing an additional 1,607 shares during the last quarter. Finally, Kennedy Investment Group raised its stake in shares of SoFi Technologies by 1.6% during the 3rd quarter. Kennedy Investment Group now owns 118,000 shares of the company’s stock worth $927,000 after purchasing an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Up 0.5 %

SOFI stock opened at $10.99 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The firm has a market capitalization of $11.71 billion, a P/E ratio of -45.79, a P/E/G ratio of 2.08 and a beta of 1.70. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $11.34. The company’s 50 day simple moving average is $8.31 and its 200-day simple moving average is $7.44.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. During the same period in the previous year, the business earned ($0.06) EPS. The company’s revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts anticipate that SoFi Technologies will post 0.1 EPS for the current year.

Analysts Set New Price Targets

SOFI has been the subject of a number of research analyst reports. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a report on Wednesday, July 31st. Barclays dropped their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.25.

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.