SoFi Technologies (NASDAQ:SOFI) Trading 0.8% Higher – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price shot up 0.8% during trading on Monday . The stock traded as high as $10.35 and last traded at $10.26. 5,643,871 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 45,705,363 shares. The stock had previously closed at $10.18.

Wall Street Analyst Weigh In

SOFI has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. Barclays decreased their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reduced their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.25.

SoFi Technologies Trading Up 1.4 %

The stock has a market cap of $10.91 billion, a PE ratio of -33.10, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. The firm has a 50-day moving average price of $7.92 and a 200-day moving average price of $7.32. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The firm had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The business’s revenue was up 20.2% on a year-over-year basis. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, 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 value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,328 shares of company stock valued at $808,246. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. ORG Partners LLC purchased a new stake in shares of SoFi Technologies in the first quarter worth $27,000. Allspring Global Investments Holdings LLC boosted its stake in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares during the period. GAMMA Investing LLC lifted its holdings in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in SoFi Technologies in the 1st quarter worth approximately $37,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in SoFi Technologies during the 3rd quarter valued at approximately $47,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.