SoFi Technologies (NASDAQ:SOFI) Shares Up 1.7% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were up 1.7% during mid-day trading on Thursday . The company traded as high as $15.36 and last traded at $15.02. Approximately 11,076,542 shares were traded during trading, a decline of 74% from the average daily volume of 42,286,945 shares. The stock had previously closed at $14.77.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SOFI shares. Morgan Stanley increased their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Barclays increased their price target 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. UBS Group increased their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Needham & Company LLC increased their price target on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Bank of America restated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Performance

The company has a market capitalization of $16.22 billion, a price-to-earnings ratio of 40.36, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The firm has a fifty day simple moving average of $15.70 and a 200 day simple moving average of $11.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. 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 3.82% and a net margin of 18.64%. During the same period in the prior year, the firm earned $0.04 EPS. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Eric Schuppenhauer acquired 30,600 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the transaction, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. This represents a 197.36 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the transaction, the executive vice president now owns 178,811 shares in the company, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,008,870 shares of company stock worth $416,950,073 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors have recently added to or reduced their stakes in SOFI. Treasurer of the State of North Carolina raised its position in SoFi Technologies by 3.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 464,917 shares of the company’s stock valued at $7,160,000 after purchasing an additional 14,700 shares during the period. Bessemer Group Inc. purchased a new stake in SoFi Technologies in the fourth quarter valued at $385,000. DRW Securities LLC purchased a new stake in SoFi Technologies in the fourth quarter valued at $294,000. Raymond James Financial Inc. purchased a new stake in SoFi Technologies in the fourth quarter valued at $14,479,000. Finally, Bank of Nova Scotia purchased a new stake in SoFi Technologies in the fourth quarter valued at $14,420,000. 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.