SoFi Technologies (NASDAQ:SOFI) Trading Up 4.2% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 4.2% during trading on Wednesday . The company traded as high as $14.56 and last traded at $14.51. 13,003,046 shares were traded during mid-day trading, a decline of 71% from the average session volume of 44,275,984 shares. The stock had previously closed at $13.92.

Analysts Set New Price Targets

SOFI has been the subject of a number of recent analyst reports. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Morgan Stanley increased their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. 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 research report on Tuesday, November 19th. Finally, UBS Group increased their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Performance

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $15.75 billion, a P/E ratio of 39.15, a price-to-earnings-growth ratio of 2.24 and a beta of 1.78. The company’s 50 day moving average is $15.59 and its 200-day moving average is $12.37.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period in the prior year, the company earned $0.04 earnings per share. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Eric Schuppenhauer bought 30,600 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the completion of the purchase, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. The trade was a 197.36 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the sale, the executive vice president now owns 187,725 shares in the company, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,008,465 shares of company stock valued at $416,952,167 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Elequin Capital LP raised its stake in SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock valued at $42,000 after purchasing an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock worth $881,000 after acquiring an additional 685 shares during the last quarter. Captrust Financial Advisors raised its position in SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after purchasing an additional 809 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of SoFi Technologies by 0.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after purchasing an additional 855 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of SoFi Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after purchasing an additional 962 shares during the period. 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.