SoFi Technologies (NASDAQ:SOFI) Trading 4.5% Higher – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price rose 4.5% during trading on Monday . The company traded as high as $13.48 and last traded at $13.45. Approximately 18,576,810 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 44,430,239 shares. The stock had previously closed at $12.87.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SOFI shares. Morgan Stanley increased their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Trading Down 1.3 %

The firm has a fifty day moving average price of $14.64 and a 200-day moving average price of $13.14. The company has a market capitalization of $14.85 billion, a P/E ratio of 36.59, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm 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 year.

Insider Activity

In related news, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the transaction, the executive vice president now owns 178,811 shares of the company’s stock, valued at $3,143,497.38. This represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock valued at $1,308,075 in the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently modified their holdings of SOFI. Elequin Capital LP raised its holdings in SoFi Technologies by 30.1% during 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 raised its stake in shares of SoFi Technologies by 1.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after purchasing an additional 685 shares during the period. Captrust Financial Advisors raised its stake in shares of SoFi Technologies by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after purchasing an additional 809 shares during the period. Procyon Advisors LLC lifted its holdings in SoFi Technologies by 8.0% during the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock worth $208,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Game Plan Financial Advisors LLC boosted its stake in SoFi Technologies by 13.9% in the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock worth $128,000 after purchasing an additional 1,000 shares during the period. 38.43% of the stock is currently 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.