SoFi Technologies (NASDAQ:SOFI) Trading 1.1% Higher – Should You Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 1.1% during mid-day trading on Thursday . The company traded as high as $16.48 and last traded at $16.11. 19,680,370 shares traded hands during trading, a decline of 59% from the average session volume of 47,476,121 shares. The stock had previously closed at $15.94.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SOFI. The Goldman Sachs Group increased their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Needham & Company LLC increased their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays lifted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Finally, Jefferies Financial Group boosted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.50.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market cap of $17.63 billion, a PE ratio of 162.50, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. The company’s 50 day moving average price is $12.83 and its 200-day moving average price is $9.12.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same period last year, the business posted ($0.03) earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the sale, the director now directly owns 25,937 shares in the company, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at $1,290,472.89. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,012,748 shares of company stock worth $416,356,356. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently modified their holdings of SOFI. World Investment Advisors LLC boosted its holdings in SoFi Technologies by 6.5% in the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock valued at $171,000 after purchasing an additional 1,336 shares during the period. Virtu Financial LLC bought a new stake in SoFi Technologies during the third quarter valued at $1,649,000. Coldstream Capital Management Inc. purchased a new position in SoFi Technologies during the third quarter worth about $93,000. Geode Capital Management LLC increased its stake in 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 raised its holdings in shares of SoFi Technologies by 5.4% in the 3rd quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock valued at $359,000 after acquiring an additional 2,332 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.