SoFi Technologies (NASDAQ:SOFI) Trading Up 2.6% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price rose 2.6% on Tuesday . The stock traded as high as $11.85 and last traded at $11.93. Approximately 10,797,645 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 44,901,857 shares. The stock had previously closed at $11.63.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Needham & Company LLC raised their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Citigroup upped their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

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 is $14.10 and its 200 day moving average is $13.30. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results 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 period last year, the firm earned $0.04 EPS. On average, analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the sale, the executive vice president now owns 226,210 shares of the company’s stock, valued at approximately $2,877,391.20. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,905 shares of company stock valued at $1,308,075. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in SoFi Technologies by 1.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 267,956 shares of the company’s stock valued at $2,106,000 after acquiring an additional 4,130 shares during the last quarter. FMR LLC increased its stake in SoFi Technologies by 154.8% in the third quarter. FMR LLC now owns 92,632 shares of the company’s stock valued at $728,000 after purchasing an additional 56,279 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in SoFi Technologies during the third quarter worth about $94,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in SoFi Technologies by 3.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 230,827 shares of the company’s stock worth $1,814,000 after buying an additional 7,928 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings 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 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.