SoFi Technologies (NASDAQ:SOFI) Trading 4.1% Higher – Should You Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 4.1% during mid-day trading on Thursday . The company traded as high as $16.16 and last traded at $16.12. Approximately 48,218,577 shares changed hands during trading, an increase of 1% from the average daily volume of 47,582,633 shares. The stock had previously closed at $15.49.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group raised their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Needham & Company LLC increased their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their target price 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. Finally, Mizuho upped their price target 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $9.80.

SoFi Technologies Trading Up 1.8 %

The company has a market capitalization of $17.81 billion, a PE ratio of 164.12, a PEG ratio of 2.68 and a beta of 1.60. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The business’s 50-day simple moving average is $11.06 and its two-hundred day simple moving average is $8.45.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) EPS. On average, analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,287 shares of company stock worth $863,250 in the last ninety days. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new position in SoFi Technologies in the third quarter worth about $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies in the 3rd quarter worth approximately $28,000. Allspring Global Investments Holdings LLC boosted its position in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares during the period. GAMMA Investing LLC grew its stake in SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after buying an additional 1,981 shares during the last quarter. Finally, Waldron Private Wealth LLC acquired a new stake in SoFi Technologies in the third quarter worth $39,000. 38.43% of the stock is 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.