SoFi Technologies (NASDAQ:SOFI) Trading 2.6% Higher – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 2.6% on Tuesday . The company traded as high as $11.85 and last traded at $11.93. 10,797,645 shares traded hands during trading, a decline of 76% from the average session volume of 44,901,857 shares. The stock had previously closed at $11.63.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America reaffirmed an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Citigroup raised their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Morgan Stanley raised their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. increased their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Price Performance

The firm’s fifty day moving average is $14.32 and its 200 day moving average is $13.28. 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 capitalization of $13.12 billion, a P/E ratio of 32.26, a P/E/G ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period last year, the business posted $0.04 earnings per share. As a group, analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now owns 178,811 shares of the company’s stock, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,905 shares of company stock valued at $1,308,075 in the last 90 days. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock worth $1,514,390,000 after buying an additional 8,898,879 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in SoFi Technologies during the 4th quarter worth approximately $299,980,000. State Street Corp raised its position in SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after purchasing an additional 310,532 shares during the period. Geode Capital Management LLC lifted its position in SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock worth $276,288,000 after acquiring an additional 315,899 shares in the last quarter. Finally, Norges Bank acquired a new position in SoFi Technologies in the 4th quarter worth $103,678,000. 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.