SoFi Technologies (NASDAQ:SOFI) Shares Up 1.7% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price shot up 1.7% during mid-day trading on Thursday . The company traded as high as $15.36 and last traded at $15.02. 11,076,542 shares were traded during mid-day trading, a decline of 74% from the average session volume of 42,286,945 shares. The stock had previously closed at $14.77.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SOFI shares. Jefferies Financial Group upped their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group upped their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

The firm has a 50-day simple moving average of $15.70 and a 200 day simple moving average of $11.80. The firm has a market cap of $16.22 billion, a PE ratio of 40.36, a price-to-earnings-growth ratio of 2.04 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 released its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the business posted $0.04 earnings per share. As a group, equities analysts expect that SoFi Technologies, Inc. will post 0.27 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 9,590 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,008,870 shares of company stock worth $416,950,073. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC raised its holdings in shares of SoFi Technologies by 1.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock worth $881,000 after acquiring an additional 685 shares in the last quarter. Captrust Financial Advisors grew its position in SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after acquiring an additional 809 shares during the last quarter. Summit Trail Advisors LLC grew its position in SoFi Technologies by 0.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after acquiring an additional 855 shares during the last quarter. CIBC Asset Management Inc grew its position in SoFi Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after acquiring an additional 962 shares during the last quarter. Finally, Oak Harbor Wealth Partners LLC grew its position in SoFi Technologies by 10.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

About SoFi Technologies

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.