SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.1% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 2.1% on Friday . The stock traded as high as $16.73 and last traded at $16.65. 18,165,684 shares changed hands during trading, a decline of 52% from the average session volume of 37,603,195 shares. The stock had previously closed at $16.30.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Mizuho increased their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Morgan Stanley lifted their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Barclays increased their price target 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. Finally, Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.71.

SoFi Technologies Price Performance

The company’s 50-day simple moving average is $15.25 and its 200 day simple moving average is $10.56. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $17.90 billion, a price-to-earnings ratio of 164.87, a P/E/G ratio of 0.96 and a beta of 1.78.

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

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,009,264 shares of company stock worth $416,889,795. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of SOFI. State Street Corp increased its holdings in shares of SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after purchasing an additional 310,532 shares during the period. Geode Capital Management LLC raised 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 valued at $138,523,000 after acquiring an additional 358,806 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares during the period. Marshall Wace LLP lifted its holdings in shares of SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after acquiring an additional 3,593,464 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after acquiring an additional 87,097 shares during the last quarter. 38.43% of the stock is currently 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.