SoFi Technologies (NASDAQ:SOFI) Shares Up 0.2% – Still a Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 0.2% during mid-day trading on Thursday . The company traded as high as $8.76 and last traded at $8.61. Approximately 12,153,795 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 45,170,301 shares. The stock had previously closed at $8.59.

Analyst Ratings Changes

SOFI has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research note on Wednesday, July 31st. Barclays dropped their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.08.

SoFi Technologies Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average price is $7.48 and its two-hundred day moving average price is $7.21. The stock has a market capitalization of $9.20 billion, a PE ratio of -27.77, a price-to-earnings-growth ratio of 1.60 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,328 shares of company stock valued at $808,246. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently bought and sold shares of SOFI. Watts Gwilliam & Co. LLC purchased a new position in shares of SoFi Technologies in the third quarter valued at approximately $128,000. LifePro Asset Management acquired a new position in SoFi Technologies in the 3rd quarter valued at $2,450,000. Wedmont Private Capital acquired a new position in SoFi Technologies in the 3rd quarter valued at $123,000. CWM LLC boosted its stake in SoFi Technologies by 93.0% during the 3rd quarter. CWM LLC now owns 98,956 shares of the company’s stock worth $778,000 after purchasing an additional 47,672 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of SoFi Technologies during the third quarter worth $119,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.