SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.9% – Should You Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 0.9% during trading on Tuesday . The stock traded as high as $16.12 and last traded at $15.71. Approximately 18,574,510 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 47,469,113 shares. The stock had previously closed at $15.57.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SOFI shares. Barclays raised their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Bank of America reissued an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a report on Monday. 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 report on Monday, December 2nd. Needham & Company LLC raised their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.50.

SoFi Technologies Stock Up 4.3 %

The firm’s fifty day moving average is $12.51 and its 200-day moving average is $9.01. 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 company has a market capitalization of $17.30 billion, a P/E ratio of 159.40, a price-to-earnings-growth ratio of 2.66 and a beta of 1.77.

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

Insiders Place Their Bets

In other news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,960,748 shares of company stock valued at $415,523,316 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares during the last quarter. Zacks Investment Management bought a new stake in shares of SoFi Technologies in the 3rd quarter valued at $3,766,000. Citizens Financial Group Inc. RI boosted its stake in shares of SoFi Technologies by 41.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after purchasing an additional 70,603 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after acquiring an additional 2,688,847 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new position in SoFi Technologies during the third quarter worth $930,000. 38.43% of the stock is owned by institutional investors.

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.