SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 1% on Monday . The stock traded as high as $13.60 and last traded at $13.44. 19,480,489 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 48,416,281 shares. The stock had previously closed at $13.30.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SOFI shares. Citizens Jmp assumed coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued an “outperform” rating and a $17.00 price target on the stock. Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Barclays lifted their price objective on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. JMP Securities started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued a “market outperform” rating and a $17.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, SoFi Technologies has an average rating of “Hold” and an average target price of $14.36.

SoFi Technologies Trading Down 1.0%

The company has a 50-day moving average price of $12.26 and a 200-day moving average price of $14.02. 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 firm has a market capitalization of $14.94 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 2.24 and a beta of 1.84.

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

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 11,181 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the sale, the executive vice president now owns 226,210 shares in the company, valued at $2,877,391.20. The trade was a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,507 shares of company stock worth $1,283,528 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Elequin Capital LP grew its holdings in SoFi Technologies by 30.1% during the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock worth $42,000 after acquiring an additional 631 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of SoFi Technologies by 1.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after purchasing an additional 685 shares during the period. Game Plan Financial Advisors LLC raised its holdings in SoFi Technologies by 13.9% in the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock valued at $128,000 after acquiring an additional 1,000 shares during the period. Bank of New Hampshire grew its position in SoFi Technologies by 33.3% during the first quarter. Bank of New Hampshire now owns 4,000 shares of the company’s stock worth $47,000 after buying an additional 1,000 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in shares of SoFi Technologies by 16.7% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company’s stock valued at $81,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors 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.