Investors Buy Large Volume of SoFi Technologies Call Options (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI) was the recipient of unusually large options trading on Friday. Stock investors bought 370,614 call options on the company. This is an increase of 53% compared to the typical volume of 242,278 call options.

Insiders Place Their Bets

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 transaction of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in shares of SoFi Technologies during the fourth quarter worth $27,000. Westside Investment Management Inc. grew its stake in SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after acquiring an additional 1,500 shares in the last quarter. SOA Wealth Advisors LLC. raised its holdings in SoFi Technologies by 61.2% in the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after acquiring an additional 1,713 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in SoFi Technologies in the 1st quarter valued at about $37,000. Finally, Tortoise Investment Management LLC purchased a new position in SoFi Technologies in the 4th quarter worth approximately $39,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wedbush reissued an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a report on Wednesday, March 6th. Needham & Company LLC began coverage on SoFi Technologies in a research report on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 price target for the company. Citigroup assumed coverage on SoFi Technologies in a report on Monday, April 8th. They issued a “buy” rating and a $11.00 target price for the company. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Finally, Mizuho reduced their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.08.

SoFi Technologies Stock Performance

SOFI stock traded up $0.28 during midday trading on Friday, hitting $7.87. 87,518,490 shares of the stock traded hands, compared to its average volume of 52,757,336. The stock’s fifty day simple moving average is $7.64 and its 200-day simple moving average is $7.90. The firm has a market cap of $7.69 billion, a P/E ratio of -20.71 and a beta of 1.75. SoFi Technologies has a 1-year low of $4.45 and a 1-year high of $11.70. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $615.40 million for the quarter, compared to the consensus estimate of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. SoFi Technologies’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) earnings per share. 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.