SoFi Technologies Inc (NASDAQ: SOFI) stock jumped 1.79% on Friday to $6.83 against a previous-day closing price of $6.71. With 30.41 million shares changed hands, the volume of the stock remained lighter than its average volume of 30.53 million shares. During the session, the Credit Services company that operates in wider Financial sector, reached to the highest price of $6.88 whereas the lowest price it dropped to was $6.65. The 52-week range on SOFI shows that it touched its highest point at $11.70 and its lowest point at $4.24 during that stretch. It currently has a 1-year price target of $9.18. Beta for the stock currently stands at 1.69.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SOFI was down-trending over the past week, with a drop of -1.59%, but this was down by -10.48% over a month. Three-month performance dropped to -17.61% while six-month performance rose 38.54%. The stock gained 23.51% in the past year, while it has gained 48.16% so far this year. A look at the trailing 12-month EPS for SOFI yields -0.45 with Next year EPS estimates of 0.07. For the next quarter, that number is 0.00. This implies an EPS growth rate of 14.63% for this year and 119.70% for next year.
Float and Shares Shorts:
At present, 933.90 million SOFI shares are outstanding with a float of 885.83 million shares on hand for trading. On Oct 30, 2023, short shares totaled 117.49 million, which was 12.25% higher than short shares on Sep 28, 2023. In addition to Mr. George Thompson Hutton as the firm’s Independent Non Executive Chairman, Mr. Anthony J. Noto serves as its CEO & Director.
Through their ownership of 35.51% of SOFI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 21.05% of SOFI, in contrast to 19.53% held by mutual funds. Shares owned by individuals account for 15.43%. As the largest shareholder in SOFI with 7.90% of the stake, The Vanguard Group, Inc. holds 75,093,688 shares worth 75,093,688. A second-largest stockholder of SOFI, BlackRock Fund Advisors, holds 36,975,135 shares, controlling over 3.89% of the firm’s shares. Two Sigma Investments LP is the third largest shareholder in SOFI, holding 15,163,244 shares or 1.60% stake. With a 2.66% stake in SOFI, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 25,231,777 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.19% of SOFI stock, is the second-largest Mutual Fund holder. It holds 20,830,541 shares valued at 157.27 million. Vanguard Extended Market Index Fu holds 1.43% of the stake in SOFI, owning 13,565,847 shares worth 102.42 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SOFI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SOFI analysts setting a high price target of $15.00 and a low target of $3.00, the average target price over the next 12 months is $9.18. Based on these targets, SOFI could surge 119.62% to reach the target high and fall by -56.08% to reach the target low. Reaching the average price target will result in a growth of 34.41% from current levels.
Summary of Insider Activity:
Insiders traded SOFI stock several times over the past three months with 8 Buys and 9 Sells. In these transactions, 1,764,821 shares were bought while 899,973 shares were sold. The number of buy transactions has increased to 59 while that of sell transactions has risen to 46 over the past year. The total number of shares bought during that period was 8,835,953 while 4,018,266 shares were sold.