SoFi Technologies (NASDAQ:SOFI) Trading 3.3% Higher – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 3.3% during mid-day trading on Wednesday . The stock traded as high as $16.43 and last traded at $16.41. 13,823,135 shares traded hands during trading, a decline of 71% from the average session volume of 47,363,141 shares. The stock had previously closed at $15.88.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC increased their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays increased 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. Finally, Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $10.36.

SoFi Technologies Price Performance

The stock has a market capitalization of $17.71 billion, a PE ratio of 164.12, a P/E/G ratio of 2.65 and a beta of 1.77. The firm’s 50 day simple moving average is $11.55 and its 200 day simple moving average is $8.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping 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 company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Activity

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, 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 11.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at $1,290,472.89. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,287 shares of company stock worth $863,250. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in SoFi Technologies in the 3rd quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in SoFi Technologies in the 3rd quarter worth approximately $28,000. Allspring Global Investments Holdings LLC boosted its stake in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares during the period. Waldron Private Wealth LLC bought a new position in SoFi Technologies in the 3rd quarter worth approximately $39,000. Finally, GAMMA Investing LLC boosted its stake in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing 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.