SoFi Technologies (NASDAQ:SOFI) Trading 0.2% Higher – Still a Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) rose 0.2% on Monday . The company traded as high as $15.64 and last traded at $15.38. Approximately 9,516,992 shares traded hands during trading, a decline of 80% from the average daily volume of 47,601,473 shares. The stock had previously closed at $15.35.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research analyst reports. Bank of America reaffirmed an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Mizuho raised their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley raised their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average price target of $11.04.

SoFi Technologies Price Performance

The firm has a market capitalization of $17.05 billion, a PE ratio of 157.12, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. The stock’s 50 day simple moving average is $13.55 and its two-hundred day simple moving average is $9.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) earnings per share. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity

In other news, EVP Eric Schuppenhauer purchased 30,600 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the acquisition, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the transaction, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,000,350 shares of company stock valued at $416,750,826. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $27,000. Brooklyn Investment Group acquired a new stake in shares of SoFi Technologies in the third quarter valued at $28,000. Allspring Global Investments Holdings LLC grew its stake in shares of 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 buying an additional 1,543 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies in the 3rd quarter valued at $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in SoFi Technologies during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.