SoFi Technologies (NASDAQ:SOFI) Shares Gap Up – Still a Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) gapped up before the market opened on Monday . The stock had previously closed at $12.88, but opened at $13.24. SoFi Technologies shares last traded at $13.20, with a volume of 12,613,253 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SOFI. Citigroup lifted their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Citizens Jmp assumed coverage on SoFi Technologies in a report on Friday. They issued an “outperform” rating and a $17.00 target price for the company. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Finally, JMP Securities started coverage on shares of SoFi Technologies in a research report on Friday. They issued a “market outperform” rating and a $17.00 price target for the company. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.10.

SoFi Technologies Stock Performance

The firm has a fifty day moving average price of $12.20 and a 200 day moving average price of $13.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a market cap of $14.12 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period last year, the firm earned $0.04 EPS. Research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 9,185 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the transaction, the executive vice president now directly owns 169,626 shares of the company’s stock, valued at $2,617,329.18. This represents a 5.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,172 shares of company stock worth $1,271,115 in the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SOFI. Skandinaviska Enskilda Banken AB publ acquired a new position in SoFi Technologies in the fourth quarter valued at $27,000. Hollencrest Capital Management purchased a new stake in shares of SoFi Technologies during the 4th quarter worth $31,000. Garde Capital Inc. purchased a new position in SoFi Technologies in the 1st quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC purchased a new stake in SoFi Technologies during the fourth quarter worth $32,000. Finally, FNY Investment Advisers LLC increased its position in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after buying an additional 1,905 shares in the last quarter. 38.43% of the stock is currently 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.