SoFi Technologies (NASDAQ:SOFI) Trading Up 2.2% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price shot up 2.2% during trading on Thursday . The company traded as high as $16.44 and last traded at $16.38. 8,949,219 shares traded hands during trading, a decline of 81% from the average session volume of 47,423,371 shares. The stock had previously closed at $16.02.

Analysts Set New Price Targets

SOFI has been the subject of a number of analyst reports. Bank of America reissued an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Jefferies Financial Group lifted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Morgan Stanley increased their price objective on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. The Goldman Sachs Group upped their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC raised their price objective on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Three research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.04.

SoFi Technologies Stock Up 3.4 %

The firm’s 50 day simple moving average is $13.90 and its 200-day simple moving average is $9.64. The company has a market cap of $17.97 billion, a price-to-earnings ratio of 165.62, a P/E/G ratio of 2.65 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

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

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the sale, the executive vice president now directly owns 142,613 shares in the company, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the sale, the director now owns 482,083 shares in the company, valued at approximately $7,742,252.98. This trade represents a 78.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,009,264 shares of company stock worth $416,889,795 over the last 90 days. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SOFI. State Street Corp lifted its stake in SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after buying an additional 310,532 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock valued at $138,523,000 after purchasing an additional 358,806 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after buying an additional 9,482,683 shares during the last quarter. Marshall Wace LLP grew its holdings in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after buying an additional 3,593,464 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after acquiring an additional 87,097 shares during the period. 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.