SoFi Technologies (NASDAQ:SOFI) Shares Gap Up – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) gapped up before the market opened on Monday . The stock had previously closed at $12.88, but opened at $13.24. SoFi Technologies shares last traded at $13.20, with a volume of 12,613,253 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on SOFI shares. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Needham & Company LLC increased their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. JMP Securities began coverage on SoFi Technologies in a research note on Friday, April 25th. They set a “market outperform” rating and a $17.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.10.

SoFi Technologies Price Performance

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $14.55 billion, a PE ratio of 35.86, a PEG ratio of 2.24 and a beta of 1.86. The company has a 50-day moving average of $12.09 and a 200 day moving average of $13.70.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.02 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.72, for a total transaction of $142,222.32. Following the sale, the executive vice president now owns 226,210 shares of the company’s stock, valued at approximately $2,877,391.20. This represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,172 shares of company stock worth $1,271,115 over the last three months. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Brown Advisory Inc. acquired a new position in SoFi Technologies during the 1st quarter worth approximately $288,000. Highview Capital Management LLC DE lifted its position in shares of SoFi Technologies by 25.1% during the 1st quarter. Highview Capital Management LLC DE now owns 93,573 shares of the company’s stock worth $1,088,000 after buying an additional 18,791 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of SoFi Technologies by 27.5% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 15,933 shares of the company’s stock worth $185,000 after buying an additional 3,437 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its position in shares of SoFi Technologies by 258,933.3% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 101,023 shares of the company’s stock worth $1,175,000 after buying an additional 100,984 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in SoFi Technologies by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 3,261,225 shares of the company’s stock valued at $37,928,000 after purchasing an additional 37,855 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.