SoFi Technologies (NASDAQ:SOFI) Shares Up 2% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 2% during trading on Wednesday . The company traded as high as $17.19 and last traded at $16.99. 14,821,209 shares were traded during mid-day trading, a decline of 69% from the average session volume of 47,497,313 shares. The stock had previously closed at $16.66.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC raised their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, Bank of America reaffirmed an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.50.

SoFi Technologies Price Performance

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 company has a market capitalization of $17.69 billion, a P/E ratio of 163.02, a P/E/G ratio of 2.65 and a beta of 1.77. The firm’s fifty day moving average is $13.16 and its 200 day moving average is $9.29.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results 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. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business’s revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) earnings per share. As a group, analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Eric Schuppenhauer purchased 30,600 shares of the stock in a transaction on Monday, December 16th. The stock was acquired 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 in the company, valued at $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,012,748 shares of company stock valued at $416,356,356 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Large investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in shares of SoFi Technologies by 783.5% during the 2nd quarter. Blue Trust Inc. now owns 8,102 shares of the company’s stock worth $59,000 after acquiring an additional 7,185 shares in the last quarter. Brookstone Capital Management purchased a new stake in shares of SoFi Technologies in the second quarter valued at about $401,000. Raymond James & Associates increased its holdings in shares of SoFi Technologies by 28.6% during the 2nd quarter. Raymond James & Associates now owns 520,301 shares of the company’s stock worth $3,439,000 after buying an additional 115,639 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in SoFi Technologies in the second quarter valued at approximately $185,000. Finally, Atria Wealth Solutions Inc. raised its position in SoFi Technologies by 8.3% in the second quarter. Atria Wealth Solutions Inc. now owns 467,009 shares of the company’s stock valued at $3,087,000 after purchasing an additional 35,738 shares during the period. 38.43% of the stock is 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.