SoFi Technologies (NASDAQ:SOFI) Trading 7.1% Higher – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded up 7.1% on Friday . The company traded as high as $16.11 and last traded at $16.28. 20,814,383 shares changed hands during trading, a decline of 51% from the average session volume of 42,244,480 shares. The stock had previously closed at $15.19.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Mizuho upped their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Morgan Stanley raised their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Bank of America reissued an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Finally, Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Performance

The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $17.59 billion, a PE ratio of 43.81, a PEG ratio of 2.04 and a beta of 1.77. The business’s 50 day moving average is $15.69 and its 200 day moving average is $11.91.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 EPS 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 quarter in the previous year, the business earned $0.04 EPS. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Eric Schuppenhauer purchased 30,600 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was purchased at an average price of $16.34 per share, with a total value of $500,004.00. Following the completion of the purchase, the executive vice president now owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. The trade was a 197.36 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the transaction, the executive vice president now owns 178,811 shares in the company, valued at $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,008,870 shares of company stock worth $416,950,073. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors have recently made changes to their positions in the company. Hanseatic Management Services Inc. bought a new position in SoFi Technologies during the 4th quarter worth about $1,116,000. Kercheville Advisors LLC purchased a new stake in SoFi Technologies during the fourth quarter worth $1,594,000. Charles Schwab Investment Management Inc. boosted its position in SoFi Technologies by 1.4% during 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 acquiring an additional 87,097 shares in the last quarter. Zacks Investment Management bought a new position in shares of SoFi Technologies in the 3rd quarter worth $3,766,000. Finally, Citizens Financial Group Inc. RI lifted its stake in shares of SoFi Technologies by 41.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock worth $1,892,000 after purchasing an additional 70,603 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.