SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.2% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was up 0.2% on Thursday . The stock traded as high as $8.76 and last traded at $8.61. Approximately 12,153,795 shares changed hands during trading, a decline of 73% from the average daily volume of 45,170,301 shares. The stock had previously closed at $8.59.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Barclays dropped their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reduced their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.08.

SoFi Technologies Price Performance

The business’s 50-day moving average price is $7.56 and its 200 day moving average price is $7.23. The company has a market capitalization of $9.53 billion, a P/E ratio of -29.06, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) EPS. Analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction dated Thursday, August 22nd. The stock was 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 owns 114,407 shares of the company’s stock, valued at $830,594.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. 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 the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction dated 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 approximately $830,594.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,328 shares of company stock worth $808,246. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. ORG Partners LLC bought a new position in SoFi Technologies during the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC boosted its position in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the period. SOA Wealth Advisors LLC. increased its position in shares of SoFi Technologies by 61.2% in the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after acquiring an additional 1,713 shares during the period. GAMMA Investing LLC raised its stake in shares of SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after acquiring an additional 1,981 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of SoFi Technologies during the first quarter worth about $37,000. 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.