SoFi Technologies (NASDAQ:SOFI) Reaches New 1-Year High – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price hit a new 52-week high on Monday . The stock traded as high as $10.50 and last traded at $10.36, with a volume of 6169928 shares. The stock had previously closed at $10.18.

Wall Street Analyst Weigh In

SOFI has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. Keefe, Bruyette & Woods cut their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Finally, Barclays lowered their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.25.

SoFi Technologies Stock Up 1.4 %

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 market capitalization of $10.91 billion, a price-to-earnings ratio of -32.84, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. The business has a fifty day moving average price of $7.92 and a two-hundred day moving average price of $7.32.

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

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The stock was 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 $4,234,620.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,328 shares of company stock worth $808,246 over the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of SOFI. Benjamin F. Edwards & Company Inc. increased its holdings in shares of SoFi Technologies by 4,252.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after buying an additional 86,545 shares during the last quarter. Mark Asset Management LP increased its stake in SoFi Technologies by 79.9% during the second quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock worth $2,252,000 after acquiring an additional 151,265 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in SoFi Technologies by 64.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock valued at $1,948,000 after purchasing an additional 115,316 shares during the period. Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of SoFi Technologies by 233.3% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock valued at $661,000 after purchasing an additional 70,000 shares during the last quarter. Finally, Axxcess Wealth Management LLC purchased a new position in shares of SoFi Technologies during the 1st quarter worth $185,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.