SoFi Technologies (NASDAQ:SOFI) Trading Up 2.4% – Time to Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 2.4% during trading on Monday . The stock traded as high as $16.05 and last traded at $16.02. Approximately 57,220,505 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 48,608,632 shares. The stock had previously closed at $15.65.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised 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. Bank of America reaffirmed an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a report on Monday. Mizuho upped their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Finally, Barclays increased their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.50.

SoFi Technologies Stock Up 2.4 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a 50-day moving average of $12.04 and a two-hundred day moving average of $8.84. The company has a market cap of $17.38 billion, a P/E ratio of 160.22, a P/E/G ratio of 2.66 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $631.59 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The firm’s revenue was up 29.8% on a year-over-year basis. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Activity

In related news, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction 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. The trade was a 11.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,960,748 shares of company stock valued at $415,523,316. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in SoFi Technologies during the 3rd quarter valued at about $27,000. Brooklyn Investment Group purchased a new stake in SoFi Technologies in the third quarter worth approximately $28,000. Allspring Global Investments Holdings LLC boosted its stake in shares of SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares during the last quarter. GAMMA Investing LLC boosted its position in SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the last quarter. Finally, Waldron Private Wealth LLC bought a new stake in SoFi Technologies during the third quarter valued at approximately $39,000. 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.