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

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

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Trueblood Wealth Management LLC raised its position in shares of SoFi Technologies by 41.0% in the 1st quarter. Trueblood Wealth Management LLC now owns 22,103 shares of the company’s stock valued at $161,000 after buying an additional 6,426 shares in the last quarter. McGuire Investment Group LLC raised its position in shares of SoFi Technologies by 10.2% in the 1st quarter. McGuire Investment Group LLC now owns 39,950 shares of the company’s stock valued at $292,000 after buying an additional 3,700 shares in the last quarter. UMB Bank n.a. raised its position in shares of SoFi Technologies by 36.1% in the 1st quarter. UMB Bank n.a. now owns 31,237 shares of the company’s stock valued at $228,000 after buying an additional 8,278 shares in the last quarter. Gainplan LLC bought a new stake in shares of SoFi Technologies during the 1st quarter valued at approximately $77,000. Finally, Triumph Capital Management grew its holdings in shares of SoFi Technologies by 24.9% during the 1st quarter. Triumph Capital Management now owns 362,385 shares of the company’s stock valued at $2,616,000 after purchasing an additional 72,142 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $7.87 on Friday. SoFi Technologies has a 52 week low of $4.45 and a 52 week high of $11.70. 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 company has a 50-day simple moving average of $7.64 and a 200 day simple moving average of $7.90. The company has a market capitalization 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 quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The business had revenue of $615.40 million during the quarter, compared to analysts’ expectations of $572.02 million. During the same quarter in the previous year, the company earned ($0.05) EPS. The business’s revenue was up 34.7% on a year-over-year basis. On average, sell-side analysts predict that SoFi Technologies will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SOFI. Morgan Stanley reissued an “underweight” rating and set a $6.50 price objective (down previously from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Wedbush reissued an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research report on Wednesday, March 6th. Needham & Company LLC initiated coverage on shares of SoFi Technologies in a report on Wednesday, April 3rd. They set a “buy” rating and a $10.00 target price for the company. The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.08.

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.