SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.1% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 2.1% during mid-day trading on Friday . The stock traded as high as $16.73 and last traded at $16.65. 18,165,684 shares were traded during trading, a decline of 52% from the average session volume of 37,603,195 shares. The stock had previously closed at $16.30.

Analyst Upgrades and Downgrades

A number of research firms have commented on SOFI. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Bank of America reaffirmed an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Needham & Company LLC boosted their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.71.

SoFi Technologies Trading Up 1.2 %

The stock has a market cap of $17.90 billion, a price-to-earnings ratio of 165.02, a P/E/G ratio of 0.96 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company’s fifty day moving average price is $15.32 and its 200-day moving average price is $10.66.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the prior year, the business posted ($0.03) EPS. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,308 shares of the 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 owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 5.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,009,264 shares of company stock worth $416,889,795 in the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors have recently modified their holdings of SOFI. Dimensional Fund Advisors LP boosted its stake in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after buying an additional 9,482,683 shares during the last quarter. Marshall Wace LLP boosted its position in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after purchasing an additional 2,688,847 shares during the period. Quadrature Capital Ltd purchased a new position in shares of SoFi Technologies during the 3rd quarter valued at approximately $16,014,000. Finally, Hsbc Holdings PLC lifted its stake in shares of SoFi Technologies by 337.6% in the 2nd quarter. Hsbc Holdings PLC now owns 719,243 shares of the company’s stock valued at $4,715,000 after purchasing an additional 554,866 shares during the period. Hedge funds and other institutional investors 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.