SoFi Technologies (NASDAQ:SOFI) Stock Price Up 3.4% – Should You Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) rose 3.4% on Thursday . The company traded as high as $16.09 and last traded at $16.03. Approximately 14,622,784 shares were traded during trading, a decline of 60% from the average daily volume of 36,953,266 shares. The stock had previously closed at $15.51.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of recent analyst reports. Needham & Company LLC raised their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective 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 upped their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. William Blair started coverage on shares of SoFi Technologies in a research report on Wednesday. They set an “outperform” rating for the company. Finally, Jefferies Financial Group upped their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Four analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.71.

SoFi Technologies Trading Up 5.3 %

The business has a 50 day moving average of $15.16 and a 200 day moving average of $10.52. The firm has a market cap of $17.72 billion, a price-to-earnings ratio of 163.27, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) earnings per share. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction on Monday, October 21st. The stock was 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 directly owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,009,264 shares of company stock worth $416,889,795. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of SoFi Technologies in the 3rd quarter valued at $27,000. Brooklyn Investment Group purchased a new position in shares of SoFi Technologies in the 3rd quarter worth $28,000. FNY Investment Advisers LLC boosted its holdings in SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in SoFi Technologies during the third quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in SoFi Technologies during the third quarter worth about $47,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.