SoFi Technologies (NASDAQ:SOFI) Shares Up 6.7% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price shot up 6.7% during mid-day trading on Monday . The company traded as high as $16.42 and last traded at $16.21. 63,149,894 shares traded hands during trading, an increase of 45% from the average session volume of 43,586,292 shares. The stock had previously closed at $15.19.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SOFI. Barclays boosted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. UBS Group lifted their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Citigroup lifted their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Finally, Mizuho lifted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Trading Down 3.9 %

The firm has a market capitalization of $17.56 billion, a price-to-earnings ratio of 43.73, a P/E/G ratio of 2.34 and a beta of 1.77. 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 firm’s 50-day simple moving average is $15.73 and its 200 day simple moving average is $12.08.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the prior year, the firm earned $0.04 earnings per share. Equities analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total value of $28,242,361.18. Following the sale, the director now owns 482,083 shares of the company’s stock, valued at $7,742,252.98. The trade was a 78.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bashir Ruzwana sold 52,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the sale, the director now directly owns 25,937 shares in the company, valued at approximately $415,510.74. This represents a 66.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,999,280 shares of company stock worth $416,810,442. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Institutional investors have recently bought and sold shares of the company. Hanseatic Management Services Inc. bought a new stake in SoFi Technologies during the fourth quarter valued at $1,116,000. Kercheville Advisors LLC bought a new stake in SoFi Technologies during the fourth quarter valued at $1,594,000. Charles Schwab Investment Management Inc. boosted its position in SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after acquiring an additional 87,097 shares during the last quarter. Zacks Investment Management bought a new stake in SoFi Technologies during the third quarter valued at $3,766,000. Finally, Citizens Financial Group Inc. RI boosted its position in SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after acquiring an additional 70,603 shares during 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.