SoFi Technologies (NASDAQ:SOFI) Trading Up 1.2% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 1.2% during mid-day trading on Friday . The stock traded as high as $10.09 and last traded at $9.99. 7,609,975 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 45,746,609 shares. The stock had previously closed at $9.87.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a report on Wednesday, July 31st. Finally, 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 report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average target price of $9.08.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The firm has a fifty day simple moving average of $7.92 and a 200 day simple moving average of $7.33. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of -32.84, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. During the same period last year, the company earned ($0.06) earnings per share. SoFi Technologies’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,328 shares of company stock valued at $808,246. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOFI. Dimensional Fund Advisors LP raised its position in SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after purchasing an additional 9,482,683 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in SoFi Technologies by 176.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after purchasing an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. raised its position in SoFi Technologies by 176.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after purchasing an additional 6,870,610 shares during the period. Vanguard Group Inc. raised its position in SoFi Technologies by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after purchasing an additional 5,057,233 shares during the period. Finally, Marshall Wace LLP raised its position in SoFi Technologies by 130.0% in the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after purchasing an additional 3,593,464 shares during the period. Hedge funds and other 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.