SoFi Technologies (NASDAQ:SOFI) Trading 6.6% Higher – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was up 6.6% on Tuesday . The stock traded as high as $17.72 and last traded at $17.59. Approximately 26,712,616 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 38,293,355 shares. The stock had previously closed at $16.50.

Analysts Set New Price Targets

Several brokerages recently issued reports on SOFI. Bank of America reiterated an “underperform” rating and issued a $12.00 target price 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 from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Jefferies Financial Group boosted 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. Morgan Stanley raised their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Finally, William Blair started coverage on shares of SoFi Technologies in a research note on Wednesday, January 15th. They set an “outperform” rating for the company. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $11.71.

SoFi Technologies Trading Up 2.5 %

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 firm has a market capitalization of $19.57 billion, a P/E ratio of 180.32, a P/E/G ratio of 1.21 and a beta of 1.78. The firm has a 50-day moving average of $15.53 and a two-hundred day moving average of $10.89.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data 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. The business had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) EPS. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were 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 owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,999,956 shares of company stock valued at $416,793,365 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after buying an additional 9,482,683 shares in the last quarter. Marshall Wace LLP raised 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 during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the period. Quadrature Capital Ltd bought a new stake in SoFi Technologies during the 3rd quarter valued at $16,014,000. Finally, Hsbc Holdings PLC lifted its stake in shares of SoFi Technologies by 337.6% in the second quarter. Hsbc Holdings PLC now owns 719,243 shares of the company’s stock valued at $4,715,000 after buying an additional 554,866 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.