SoFi Technologies (NASDAQ:SOFI) Trading Up 7.1% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares rose 7.1% during mid-day trading on Friday . The company traded as high as $16.11 and last traded at $16.28. Approximately 20,814,383 shares changed hands during trading, a decline of 51% from the average daily volume of 42,244,480 shares. The stock had previously closed at $15.19.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several recent analyst reports. UBS Group upped their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Jefferies Financial Group boosted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Bank of America restated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Trading Up 5.7 %

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 has a market capitalization of $17.42 billion, a P/E ratio of 43.36, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The firm has a fifty day simple moving average of $15.69 and a two-hundred day simple moving average of $11.82.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating 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 previous year, the company earned $0.04 earnings per share. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the sale, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,008,870 shares of company stock valued at $416,950,073 over the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in SoFi Technologies in the 3rd quarter worth $27,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SoFi Technologies during the fourth quarter worth about $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies in the third quarter worth about $28,000. Hollencrest Capital Management purchased a new position in SoFi Technologies during the 4th quarter valued at about $31,000. Finally, FNY Investment Advisers LLC raised its position in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after purchasing an additional 1,905 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.