SoFi Technologies (NASDAQ:SOFI) Trading 5.3% Higher – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 5.3% on Tuesday . The stock traded as high as $11.52 and last traded at $11.49. Approximately 20,742,869 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 46,790,500 shares. The stock had previously closed at $10.91.

Analysts Set New Price Targets

A number of research firms have weighed in on SOFI. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Barclays boosted their price target 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. The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Needham & Company LLC lifted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.32.

SoFi Technologies Stock Up 3.4 %

The company has a 50-day moving average of $8.90 and a 200-day moving average of $7.65. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 118.11, a price-to-earnings-growth ratio of 1.79 and a beta of 1.60.

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, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.79% and a net margin of 8.38%. The company had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter last year, the business posted ($0.03) EPS. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s 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 of the company’s stock, valued at $4,234,620.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction on 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 sale, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,636 shares of company stock valued at $904,677 over the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. Vanguard Group Inc. lifted its stake in SoFi Technologies by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock valued at $604,632,000 after buying an additional 1,366,271 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of SoFi Technologies by 6.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock worth $75,737,000 after acquiring an additional 690,638 shares during the last quarter. Marshall Wace LLP increased its position in shares of SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in SoFi Technologies by 16.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,117,081 shares of the company’s stock valued at $20,604,000 after purchasing an additional 443,198 shares during the last quarter. 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.