SoFi Technologies (NASDAQ:SOFI) Shares Up 3.3% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was up 3.3% during mid-day trading on Wednesday . The company traded as high as $16.43 and last traded at $16.41. Approximately 13,823,135 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 47,363,141 shares. The stock had previously closed at $15.88.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of analyst reports. Barclays lifted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday. Needham & Company LLC upped their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Two research 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, the stock has a consensus rating of “Hold” and a consensus target price of $10.36.

SoFi Technologies Stock Up 1.3 %

The company has a market cap of $17.20 billion, a PE ratio of 156.50, a PEG ratio of 2.64 and a beta of 1.77. 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 fifty day simple moving average of $11.88 and a 200 day simple moving average of $8.75.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) earnings per share. Equities research analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on 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 sale, the executive vice president now owns 161,511 shares of the company’s stock, valued at $1,290,472.89. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the transaction, the director now owns 482,083 shares in the company, valued at $7,742,252.98. The trade was a 78.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,960,748 shares of company stock worth $415,523,316. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its stake in SoFi Technologies by 1.7% during the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after buying an additional 310,532 shares in the last quarter. Geode Capital Management LLC grew its holdings in SoFi Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after buying an additional 358,806 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in SoFi Technologies by 6.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock worth $75,737,000 after acquiring an additional 690,638 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of SoFi Technologies by 130.0% in the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.