SoFi Technologies (NASDAQ:SOFI) Trading 3.2% Higher – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares rose 3.2% on Monday . The company traded as high as $15.38 and last traded at $15.32. Approximately 13,168,997 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 42,708,215 shares. The stock had previously closed at $14.84.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research reports. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday. Barclays lifted their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Mizuho lifted their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Needham & Company LLC upped their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.13.

SoFi Technologies Trading Up 3.4 %

The business’s 50 day simple moving average is $14.59 and its 200 day simple moving average is $10.09. The stock has a market cap of $16.65 billion, a price-to-earnings ratio of 153.42, a PEG ratio of 2.70 and a beta of 1.77. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

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 return on equity of 3.71% and a net margin of 8.38%. The business 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 earned ($0.03) EPS. The firm’s revenue was up 29.8% compared to the same quarter last year. On average, research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares in the company, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the transaction, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock valued at $416,889,795 in the last three months. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB raised its position in shares of SoFi Technologies by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 898,467 shares of the company’s stock valued at $14,083,000 after buying an additional 10,506 shares in the last quarter. Waller Financial Planning Group Inc. raised its position in SoFi Technologies by 3,027.5% during the fourth quarter. Waller Financial Planning Group Inc. now owns 10,227 shares of the company’s stock valued at $157,000 after purchasing an additional 9,900 shares in the last quarter. Everence Capital Management Inc. bought a new stake in SoFi Technologies during the fourth quarter worth $498,000. GAMMA Investing LLC boosted its holdings in shares of SoFi Technologies by 40.3% in the 4th quarter. GAMMA Investing LLC now owns 5,925 shares of the company’s stock valued at $91,000 after purchasing an additional 1,703 shares in the last quarter. Finally, World Investment Advisors LLC increased its stake in shares of SoFi Technologies by 6.5% in the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock valued at $171,000 after purchasing an additional 1,336 shares during the last quarter. 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.