SoFi Technologies (NASDAQ:SOFI) Trading 1.1% Higher – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 1.1% on Friday . The company traded as high as $18.42 and last traded at $18.24. Approximately 18,792,522 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 41,427,262 shares. The stock had previously closed at $18.03.

Wall Street Analyst Weigh In

SOFI has been the subject of a number of research reports. Citigroup lifted 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. Jefferies Financial Group lifted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Barclays lifted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America reaffirmed an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Four 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.71.

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 firm has a market capitalization of $19.70 billion, a PE ratio of 181.37, a P/E/G ratio of 1.19 and a beta of 1.78. The company has a fifty day moving average price of $15.62 and a two-hundred day moving average price of $10.94.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same period in the previous year, the business earned ($0.03) EPS. The business’s quarterly revenue was up 29.8% on a year-over-year basis. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This represents a 6.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Insiders sold a total of 26,008,870 shares of company stock valued at $416,950,073 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several hedge funds have recently modified their holdings of SOFI. Dimensional Fund Advisors LP lifted its holdings in shares of 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 during the period. Marshall Wace LLP increased its stake in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after purchasing an additional 3,593,464 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 in the last quarter. Quadrature Capital Ltd purchased a new position in SoFi Technologies in the 3rd quarter valued at approximately $16,014,000. Finally, Zacks Investment Management purchased a new position in SoFi Technologies in the 3rd quarter valued at approximately $3,766,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.