SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.1% – Time to Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 1.1% during mid-day trading on Tuesday . The company traded as high as $10.57 and last traded at $10.51. Approximately 11,622,266 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 45,720,230 shares. The stock had previously closed at $10.40.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Barclays cut their price target 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. Finally, Keefe, Bruyette & Woods decreased their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average target price of $9.25.

SoFi Technologies Stock Performance

The company’s 50-day moving average price is $8.15 and its two-hundred day moving average price is $7.39. The company has a market cap of $11.02 billion, a P/E ratio of -33.61, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53.

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

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at $1,576,823.08. 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 at this link. Also, CTO Jeremy Rishel sold 68,081 shares of the company’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 transaction of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares of the company’s stock, 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. Insiders sold 111,636 shares of company stock worth $904,677 in the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. ORG Partners LLC purchased a new stake in SoFi Technologies in the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC increased its holdings in shares of SoFi Technologies by 55.3% in 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. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies in the third quarter worth approximately $39,000. GAMMA Investing LLC lifted its position in shares of SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of SoFi Technologies during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.