SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.1% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 1.1% during mid-day trading on Thursday . The stock traded as high as $12.93 and last traded at $12.87. 10,397,921 shares traded hands during trading, a decline of 77% from the average session volume of 44,451,599 shares. The stock had previously closed at $12.73.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SOFI. JPMorgan Chase & Co. raised their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Needham & Company LLC lifted their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Bank of America reiterated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Finally, Citigroup boosted their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Down 1.1 %

The business has a 50-day moving average price of $14.73 and a two-hundred day moving average price of $12.94. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market cap of $13.80 billion, a PE ratio of 33.78, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the prior year, the company earned $0.04 earnings per share. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. This represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 27,013 shares of company stock worth $437,402. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of the stock. Two Sigma Advisers LP acquired a new stake in SoFi Technologies in the 4th quarter valued at about $299,980,000. Vanguard Group Inc. boosted its position in shares of SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares during the last quarter. Norges Bank acquired a new stake in shares of SoFi Technologies in the fourth quarter worth approximately $103,678,000. Voloridge Investment Management LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter worth approximately $75,139,000. Finally, Amundi boosted its position in shares of SoFi Technologies by 58,176.3% in the fourth quarter. Amundi now owns 2,705,185 shares of the company’s stock worth $39,360,000 after acquiring an additional 2,700,543 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.