SoFi Technologies (NASDAQ:SOFI) Trading 0.8% Higher – Should You Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) rose 0.8% during trading on Wednesday . The company traded as high as $15.54 and last traded at $15.41. Approximately 9,602,531 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 44,484,129 shares. The stock had previously closed at $15.29.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Jefferies Financial Group boosted their target price 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. Needham & Company LLC increased their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Citigroup upped their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Up 0.7 %

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 stock’s 50-day moving average price is $15.79 and its 200-day moving average price is $11.55. The stock has a market cap of $16.18 billion, a price-to-earnings ratio of 40.30, a P/E/G ratio of 2.12 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 previous year, the company earned $0.04 EPS. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eric Schuppenhauer acquired 30,600 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were bought 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 directly owns 46,105 shares in the company, valued at approximately $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 26,008,870 shares of company stock worth $416,950,073. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

Hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors increased its stake in SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after buying an additional 809 shares during the last quarter. Summit Trail Advisors LLC increased its position in shares of SoFi Technologies by 0.3% during the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after acquiring an additional 855 shares during the last quarter. CIBC Asset Management Inc lifted its holdings 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 acquiring an additional 962 shares during the period. Oak Harbor Wealth Partners LLC boosted its position in SoFi Technologies by 10.0% in the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Procyon Advisors LLC grew its stake in SoFi Technologies by 8.0% in the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock valued at $208,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.