Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. SoFi Technologies Inc. shares valued at $1,612,400 were sold by Lavet Robert S on Feb 02. At $8.06 per share, Lavet Robert S sold 200,000 shares. The insider’s holdings dropped to 1,253,269 shares worth approximately $8.07 million following the completion of this transaction.
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Also, Noto Anthony purchased 300,000 shares, netting a total of over 1,378,020 in proceeds. Following the buying of shares at $4.59 each, the insider now holds 5,658,612 shares.
Before that, Noto Anthony had added 225,000 shares to its account. In a trade valued at $1,033,223, the Chief Executive Officer bought SoFi Technologies Inc. shares for $4.59 each. Upon closing the transaction, the insider’s holdings increased to 225,000 shares, worth approximately $34.51 million.
As published in their initiating research note from JP Morgan on January 17, 2023, SoFi Technologies Inc. [SOFI] has been a Neutral and the price target has been revised to $6. This represents a -7.33% premium over Wednesday’s closing price. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid September. As of September 09, 2022, Seaport Research Partners has initiated its “Neutral” rating for SOFI. Earlier on May 16, 2022, Piper Sandler upgraded its rating. Their new recommendation was “an Overweight” for SOFI stock which previously was a “a Neutral”.
Analyzing SOFI Stock Performance
On Wednesday, SoFi Technologies Inc. [NASDAQ: SOFI] plunged -2.42% to $6.44. The stock’s lowest price that day was $6.43, but it reached a high of $6.62 in the same session. During the last five days, there has been a drop of approximately -1.53%. Over the course of the year, SoFi Technologies Inc. shares have jumped approximately 39.70%. Shares of the company reached a 52-week high of $8.24 on 02/02/23 and a 52-week low of $4.43 on 01/03/23. A 50-day SMA is recorded $5.86, while a 200-day SMA reached $5.90. Nevertheless, trading volume fell to 19.74 million shares from 19.08 million shares the previous day.
Support And Resistance Levels for SoFi Technologies Inc. (SOFI)
According to the 24-hour chart, there is a support level at 6.37, which, if violated, would cause prices to drop to 6.31. In the upper region, resistance lies at 6.56. The next price resistance is at 6.69. RSI (Relative Strength Index) is 49.51 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.18, which suggests the price will decrease in the coming days. Percent R is at 87.68%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is SoFi Technologies Inc. subject to short interest?
Stocks of SoFi Technologies Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -19.83 million shares to 83.52 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 103.35 million shares. A decline of -23.74% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.84 of the overall float, the days-to-cover ratio (short ratio) decline to 1.84.
Which companies own the most shares of SoFi Technologies Inc. (SOFI)?
According to The Vanguard Group, Inc. filings, the company currently owns 67,323,304 shares, which is about 7.26% of the total SOFI shares outstanding. The investor’s shares have appreciated by 1,422,720 from its previous 13-F filing of 65900584.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $226,923,876. Citadel Securities LLC acquire a 150.73% interest valued at $103.45 million while Geode Capital Management LLC purchased a 589,623 stake. A total of -344,785 shares of SoFi Technologies Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 9,717,705 by Norges Bank Investment Management. In its current portfolio, Coatue Management LLC holds 8,266,520 shares valued at $57.29 million.
In terms of SoFi Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $7.54 in the next 12 months, up nearly 13.64% from the previous closing price of $6.60. Analysts anticipate SoFi Technologies Inc. stock to reach $10.00 by 2023, with the lowest price target being $5.00. In spite of this, 15 analysts ranked SoFi Technologies Inc. stock as an Overweight at the end of 2023. On April 05, 2022, MoffettNathanson assigned a price target of “a Buy” to the stock and initiated coverage with a $13.