SoFi Technologies (NASDAQ:SOFI) Trading Up 9.5% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was up 9.5% during trading on Monday . The stock traded as high as $14.44 and last traded at $14.24. Approximately 41,200,754 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 47,200,785 shares. The stock had previously closed at $13.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SOFI shares. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Jefferies Financial Group boosted their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Barclays raised their price target on 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 SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.32.

SoFi Technologies Trading Down 2.3 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.21 and a current ratio of 0.49. The firm has a fifty day moving average price of $9.32 and a 200 day moving average price of $7.81. The company has a market cap of $14.39 billion, a price-to-earnings ratio of 137.81, a P/E/G ratio of 2.30 and a beta of 1.60.

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

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,636 shares of company stock worth $904,677 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Consolidated Investment Group LLC boosted its position in shares of SoFi Technologies by 119.0% in the third quarter. Consolidated Investment Group LLC now owns 138,000 shares of the company’s stock valued at $1,085,000 after acquiring an additional 75,000 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in SoFi Technologies by 4,252.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after purchasing an additional 86,545 shares in the last quarter. SpiderRock Advisors LLC boosted its holdings in SoFi Technologies by 98.2% in the 3rd quarter. SpiderRock Advisors LLC now owns 251,246 shares of the company’s stock valued at $1,975,000 after purchasing an additional 124,500 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of SoFi Technologies by 64.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after purchasing an additional 115,316 shares in the last quarter. Finally, Mark Asset Management LP increased its holdings in shares of SoFi Technologies by 79.9% during the second quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock worth $2,252,000 after purchasing an additional 151,265 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.