SoFi Technologies (NASDAQ:SOFI) Trading 4.1% Higher – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 4.1% on Thursday . The company traded as high as $16.16 and last traded at $16.12. 48,218,577 shares were traded during mid-day trading, an increase of 1% from the average session volume of 47,582,633 shares. The stock had previously closed at $15.49.

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. Jefferies Financial Group raised their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Mizuho lifted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Needham & Company LLC upped their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus target price of $9.80.

SoFi Technologies Price Performance

The firm has a 50 day moving average price of $10.74 and a two-hundred day moving average price of $8.34. The company has a market cap of $17.49 billion, a P/E ratio of 161.22, a P/E/G ratio of 2.61 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates 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 business earned ($0.03) earnings per share. On average, analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. This trade represents a 5.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction dated Friday, September 20th. The stock was 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 directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,287 shares of company stock valued at $863,250. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors increased its stake in SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after acquiring an additional 809 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in shares of SoFi Technologies by 0.3% during the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after purchasing an additional 855 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after purchasing an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC raised its stake in SoFi Technologies by 10.0% in the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its stake in SoFi Technologies by 3.3% in the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after purchasing an additional 1,054 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other 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.