SoFi Technologies (NASDAQ:SOFI) Trading 0.9% Higher – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 0.9% on Thursday . The company traded as high as $17.87 and last traded at $17.76. Approximately 10,468,744 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 40,565,137 shares. The stock had previously closed at $17.59.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. 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. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Finally, William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.71.

SoFi Technologies Stock Down 0.6 %

The firm has a market cap of $19.45 billion, a P/E ratio of 179.22, a P/E/G ratio of 1.19 and a beta of 1.78. The firm’s fifty day moving average is $15.71 and its 200 day moving average is $11.02. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) EPS. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock valued at $416,950,073 over the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC raised its stake in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies in the third quarter valued at $27,000. Brooklyn Investment Group bought a new position in SoFi Technologies during the 3rd quarter worth $28,000. Waldron Private Wealth LLC acquired a new position in SoFi Technologies during the 3rd quarter worth about $39,000. Finally, AdvisorNet Financial Inc grew its position in shares of SoFi Technologies by 63.5% in the 4th quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock valued at $84,000 after buying an additional 2,130 shares during the last quarter. Institutional investors and hedge funds 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.