SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.5% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price rose 2.5% during trading on Wednesday . The stock traded as high as $16.03 and last traded at $16.02. Approximately 15,731,459 shares were traded during trading, a decline of 67% from the average daily volume of 47,582,809 shares. The stock had previously closed at $15.63.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Mizuho increased their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Bank of America restated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group raised 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. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.04.

SoFi Technologies Price Performance

The firm has a market capitalization of $17.38 billion, a price-to-earnings ratio of 160.22, a PEG ratio of 2.65 and a beta of 1.77. 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 company’s 50-day moving average is $13.78 and its 200-day moving average is $9.59.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million for 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 last year, the firm posted ($0.03) earnings per share. On average, research analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Schuppenhauer bought 30,600 shares of SoFi Technologies stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $16.34 per share, with a total value of $500,004.00. Following the completion of the purchase, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. The trade was a 197.36 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 26,009,264 shares of company stock valued at $416,889,795 over the last quarter. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently modified their holdings of SOFI. Captrust Financial Advisors lifted its holdings in SoFi Technologies by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after buying an additional 809 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in SoFi Technologies by 0.3% during the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after purchasing an additional 855 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after purchasing an additional 962 shares during the period. Oak Harbor Wealth Partners LLC raised its holdings in shares of SoFi Technologies by 10.0% during 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 period. Finally, Stratos Wealth Advisors LLC boosted its holdings in shares of SoFi Technologies by 3.3% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after buying an additional 1,054 shares during the period. Institutional investors 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.