SoFi Technologies (NASDAQ:SOFI) Trading Up 1.5% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded up 1.5% during trading on Tuesday . The company traded as high as $15.90 and last traded at $15.87. 7,100,476 shares traded hands during trading, a decline of 85% from the average session volume of 47,543,102 shares. The stock had previously closed at $15.63.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SOFI shares. Barclays increased their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho increased their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. The Goldman Sachs Group boosted their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, Jefferies Financial Group boosted their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus target price of $11.04.

SoFi Technologies Trading Up 2.5 %

The company’s fifty day moving average is $13.66 and its 200-day moving average is $9.53. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $17.38 billion, a P/E ratio of 160.22, a P/E/G ratio of 2.65 and a beta of 1.77.

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 the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period last year, the business posted ($0.03) earnings per share. The firm’s revenue was up 29.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction 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 completion of the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,009,264 shares of company stock worth $416,889,795 over the last three months. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOFI. Captrust Financial Advisors grew its holdings in shares of SoFi Technologies by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after purchasing an additional 809 shares in the last quarter. Summit Trail Advisors LLC lifted its position in SoFi Technologies by 0.3% in 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 during the period. CIBC Asset Management Inc boosted its stake in SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after buying an additional 962 shares in the last quarter. Oak Harbor Wealth Partners LLC increased its holdings in SoFi Technologies by 10.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares during the period. Finally, Stratos Wealth Advisors LLC raised its stake in shares of SoFi Technologies by 3.3% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after buying an additional 1,054 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.