SoFi Technologies (NASDAQ:SOFI) Trading 0.2% Higher – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were up 0.2% on Monday . The stock traded as high as $15.64 and last traded at $15.38. Approximately 9,516,992 shares were traded during trading, a decline of 80% from the average daily volume of 47,601,473 shares. The stock had previously closed at $15.35.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of research reports. Mizuho increased 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. Barclays lifted their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped 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. Morgan Stanley boosted their price objective on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. 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 company’s stock. According to data from MarketBeat, SoFi Technologies has an average rating of “Hold” and an average target price of $11.04.

SoFi Technologies Stock Up 2.3 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm’s 50 day moving average price is $13.55 and its two-hundred day moving average price is $9.47. The firm has a market cap of $17.05 billion, a price-to-earnings ratio of 157.12, a P/E/G ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping 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 analysts’ expectations of $631.59 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Eric Schuppenhauer acquired 30,600 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost 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. This trade represents a 197.36 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,000,350 shares of company stock valued at $416,750,826 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of SOFI. Dimensional Fund Advisors LP increased its position in SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of SoFi Technologies by 214.9% in the third 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 during the period. Mizuho Markets Americas LLC increased its stake in SoFi Technologies by 403.4% in the second quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after purchasing an additional 2,440,745 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in SoFi Technologies in the 3rd quarter worth about $16,014,000. 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.