SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.9% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was up 0.9% on Thursday . The stock traded as high as $17.87 and last traded at $17.76. Approximately 10,468,744 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 40,565,137 shares. The stock had previously closed at $17.59.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SOFI shares. JPMorgan Chase & Co. increased their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Mizuho raised their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Jefferies Financial Group lifted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. William Blair assumed coverage on shares of SoFi Technologies in a research note on Wednesday, January 15th. They set an “outperform” rating on the stock. Finally, Barclays lifted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.71.

SoFi Technologies Trading Up 2.0 %

The business’s 50-day moving average price is $15.53 and its two-hundred day moving average price is $10.89. The firm has a market cap of $19.46 billion, a price-to-earnings ratio of 179.85, a price-to-earnings-growth ratio of 1.21 and a beta of 1.78. 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 released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares of the company’s stock, valued at $2,076,445.28. The trade was a 6.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Eric Schuppenhauer bought 30,600 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $16.34 per share, with a total value of $500,004.00. Following the completion of the acquisition, the executive vice president now owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. This trade represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 25,999,956 shares of company stock worth $416,793,365 in the last ninety days. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC raised its position in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after purchasing an additional 1,905 shares during the period. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies in the third quarter valued at approximately $27,000. Brooklyn Investment Group bought a new position in SoFi Technologies during the third quarter worth $28,000. Waldron Private Wealth LLC bought a new position in SoFi Technologies during the third quarter worth $39,000. Finally, AdvisorNet Financial Inc increased its position in SoFi Technologies by 63.5% during the fourth quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock worth $84,000 after acquiring an additional 2,130 shares during the period. 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.