SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.2% – Time to Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 1.2% during trading on Tuesday . The stock traded as high as $15.59 and last traded at $15.59. 9,833,257 shares were traded during trading, a decline of 78% from the average session volume of 45,180,707 shares. The stock had previously closed at $15.40.

Analyst Ratings Changes

A number of research analysts recently commented on SOFI shares. JPMorgan Chase & Co. boosted their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Barclays boosted their price target on shares of 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 increased their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Citigroup boosted their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Bank of America reaffirmed an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Price Performance

The stock’s 50 day moving average price is $15.82 and its two-hundred day moving average price is $11.53. 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 has a market capitalization of $16.06 billion, a price-to-earnings ratio of 40.00, a PEG ratio of 2.12 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business posted $0.04 earnings per share. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.28 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 9,590 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the sale, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,008,870 shares of company stock valued at $416,950,073 in the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of SoFi Technologies by 1.7% in the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after buying an additional 310,532 shares in the last quarter. Geode Capital Management LLC lifted its stake in SoFi Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after purchasing an additional 358,806 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of SoFi Technologies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company’s stock valued at $97,230,000 after purchasing an additional 167,780 shares during the period. Azora Capital LP raised its holdings in shares of SoFi Technologies by 8.8% in the 3rd quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock worth $34,176,000 after buying an additional 352,901 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after buying an additional 2,688,847 shares during the period. 38.43% of the stock is owned by 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.