SoFi Technologies (NASDAQ:SOFI) Shares Up 1.5% – Should You Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 1.5% during trading on Tuesday . The company traded as high as $15.90 and last traded at $15.87. Approximately 7,100,476 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 47,543,102 shares. The stock had previously closed at $15.63.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of 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 increased their price target 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. Jefferies Financial Group boosted their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley raised their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average target price of $11.04.

SoFi Technologies Price Performance

The business’s 50 day simple moving average is $13.90 and its 200-day simple moving average is $9.64. 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 stock has a market capitalization of $17.38 billion, a price-to-earnings ratio of 160.22, a P/E/G ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The company 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% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,009,264 shares of company stock valued at $416,889,795 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. World Investment Advisors LLC increased its position in SoFi Technologies by 6.5% in the third quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock worth $171,000 after buying an additional 1,336 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of SoFi Technologies in the 3rd quarter worth about $1,649,000. Coldstream Capital Management Inc. purchased a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $93,000. Geode Capital Management LLC lifted its holdings in shares of SoFi Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after acquiring an additional 358,806 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of SoFi Technologies by 5.4% during the third quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock valued at $359,000 after buying an additional 2,332 shares during the period. Institutional investors 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.