SoFi Technologies (NASDAQ:SOFI) Trading Up 0.8% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 0.8% during trading on Monday . The stock traded as high as $10.35 and last traded at $10.26. Approximately 5,643,871 shares changed hands during trading, a decline of 88% from the average daily volume of 45,705,363 shares. The stock had previously closed at $10.18.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Barclays lowered their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.25.

SoFi Technologies Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $8.07 and its two-hundred day moving average price is $7.37. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of -33.77, a PEG ratio of 1.72 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. SoFi Technologies’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,328 shares of company stock worth $808,246. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC grew its position in shares of SoFi Technologies by 1,159.5% in the third quarter. International Assets Investment Management LLC now owns 346,673 shares of the company’s stock valued at $2,725,000 after purchasing an additional 319,148 shares during the last quarter. Waldron Private Wealth LLC acquired a new position in SoFi Technologies in the third quarter worth about $39,000. Pegasus Asset Management Inc. boosted its stake in SoFi Technologies by 1.4% in the 3rd quarter. Pegasus Asset Management Inc. now owns 112,951 shares of the company’s stock valued at $888,000 after buying an additional 1,607 shares in the last quarter. Xcel Wealth Management LLC boosted its stake in shares of SoFi Technologies by 5.9% in the 3rd quarter. Xcel Wealth Management LLC now owns 72,020 shares of the company’s stock valued at $566,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Calton & Associates Inc. grew its stake in SoFi Technologies by 33.2% during the third quarter. Calton & Associates Inc. now owns 40,440 shares of the company’s stock worth $318,000 after buying an additional 10,090 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.