SoFi Technologies (NASDAQ:SOFI) Shares Up 3.4% – Should You Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 3.4% on Thursday . The company traded as high as $16.09 and last traded at $16.03. Approximately 14,622,784 shares changed hands during trading, a decline of 60% from the average daily volume of 36,953,266 shares. The stock had previously closed at $15.51.

Analyst Ratings Changes

Several research firms have issued reports on SOFI. Jefferies Financial Group boosted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Mizuho increased their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group upped their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley boosted 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. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.71.

SoFi Technologies Stock 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 $17.72 billion, a PE ratio of 163.27, a PEG ratio of 0.96 and a beta of 1.78. The company has a 50 day moving average price of $15.16 and a 200 day moving average price of $10.52.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) EPS. Equities analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares in the company, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,009,264 shares of company stock valued at $416,889,795 over the last three months. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently bought and sold shares of the business. UMB Bank n.a. raised its position in shares of SoFi Technologies by 30.1% during the 4th quarter. UMB Bank n.a. now owns 40,644 shares of the company’s stock worth $626,000 after purchasing an additional 9,407 shares during the period. Mandatum Life Insurance Co Ltd increased its position in SoFi Technologies by 180.9% in the fourth quarter. Mandatum Life Insurance Co Ltd now owns 38,972 shares of the company’s stock worth $600,000 after buying an additional 25,100 shares during the period. Hanseatic Management Services Inc. bought a new stake in SoFi Technologies in the fourth quarter valued at $1,116,000. Arkadios Wealth Advisors boosted its holdings in shares of SoFi Technologies by 2.9% during the fourth quarter. Arkadios Wealth Advisors now owns 62,312 shares of the company’s stock valued at $960,000 after acquiring an additional 1,781 shares during the period. Finally, Merit Financial Group LLC grew its position in shares of SoFi Technologies by 65.9% during the fourth quarter. Merit Financial Group LLC now owns 31,172 shares of the company’s stock worth $480,000 after acquiring an additional 12,383 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

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.