SoFi Technologies (NASDAQ:SOFI) Trading Up 1.2% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 1.2% during trading on Wednesday . The stock traded as high as $14.28 and last traded at $13.98. Approximately 18,997,787 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 47,421,504 shares. The stock had previously closed at $13.82.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Needham & Company LLC upped their price objective on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group increased their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and an average target price of $9.32.

SoFi Technologies Price Performance

The stock has a market capitalization of $14.28 billion, a price-to-earnings ratio of 134.01, a P/E/G ratio of 2.25 and a beta of 1.60. The company has a quick ratio of 0.21, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average of $9.57 and a 200-day moving average of $7.89.

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

Insider Activity

In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares of the company’s stock, valued at $1,576,823.08. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 111,636 shares of company stock valued at $904,677. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOFI. Capital Performance Advisors LLP acquired a new position in shares of SoFi Technologies in the third quarter valued at approximately $27,000. Brooklyn Investment Group acquired a new position in SoFi Technologies in the 3rd quarter valued at $28,000. Allspring Global Investments Holdings LLC raised its position in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares during the last quarter. Waldron Private Wealth LLC acquired a new stake in shares of SoFi Technologies in the 3rd quarter worth $39,000. Finally, GAMMA Investing LLC increased its stake in shares of SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,981 shares during the period. 38.43% of the stock is 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.