SoFi Technologies (NASDAQ:SOFI) Trading 5.3% Higher – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 5.3% during mid-day trading on Friday . The company traded as high as $12.00 and last traded at $11.99. 10,667,141 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 46,260,914 shares. The stock had previously closed at $11.39.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. UBS Group boosted their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Morgan Stanley upped their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Finally, Needham & Company LLC upped their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Price 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 $13.26 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The stock has a 50 day moving average of $14.89 and a 200-day moving average of $12.85.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. 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 3.82% and a net margin of 18.64%. During the same quarter last year, the company posted $0.04 earnings per share. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at $2,926,632.75. The trade was a 4.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Eric Schuppenhauer bought 30,600 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the completion of the transaction, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 92,004 shares of company stock valued at $1,459,060. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Elequin Capital LP increased its holdings in shares of SoFi Technologies by 30.1% in the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock valued at $42,000 after acquiring an additional 631 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of SoFi Technologies by 1.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after acquiring an additional 685 shares during the period. Captrust Financial Advisors increased its holdings in shares of SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after acquiring an additional 809 shares during the period. Summit Trail Advisors LLC increased its holdings in shares of SoFi Technologies by 0.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after acquiring an additional 855 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of SoFi Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after acquiring an additional 962 shares during the period. 38.43% of the stock is owned by 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.