SoFi Technologies (NASDAQ:SOFI) Trading Up 2% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 2% on Wednesday . The company traded as high as $17.19 and last traded at $16.99. 14,821,209 shares were traded during mid-day trading, a decline of 69% from the average session volume of 47,497,313 shares. The stock had previously closed at $16.66.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SOFI. Barclays upped 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. JPMorgan Chase & Co. upped their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Morgan Stanley increased their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday. Needham & Company LLC boosted their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.04.

SoFi Technologies Price Performance

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 company has a market capitalization of $16.31 billion, a price-to-earnings ratio of 150.32, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. The company has a 50-day moving average price of $13.42 and a 200-day moving average price of $9.37.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.03) earnings per share. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 25,937 shares of the company’s stock, valued at $415,510.74. This represents a 66.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eric Schuppenhauer bought 30,600 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the transaction, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 25,944,667 shares of company stock valued at $415,803,539. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the business. World Investment Advisors LLC lifted its position in SoFi Technologies by 6.5% during the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock worth $171,000 after buying an additional 1,336 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of SoFi Technologies in the third quarter valued at about $1,649,000. Coldstream Capital Management Inc. bought a new stake in SoFi Technologies during the third quarter worth about $93,000. Geode Capital Management LLC raised its holdings in SoFi Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after acquiring an additional 358,806 shares in the last quarter. Finally, M&T Bank Corp boosted its position in SoFi Technologies by 5.4% during the third quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock valued at $359,000 after purchasing an additional 2,332 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

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.