SoFi Technologies (NASDAQ:SOFI) Shares Up 1.1% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 1.1% on Friday . The company traded as high as $18.42 and last traded at $18.24. 18,792,522 shares were traded during trading, a decline of 55% from the average session volume of 41,427,262 shares. The stock had previously closed at $18.03.

Wall Street Analysts Forecast Growth

SOFI has been the topic of several analyst reports. Barclays lifted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Citigroup raised their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. The Goldman Sachs Group upped their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Bank of America reissued an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $11.71.

SoFi Technologies Stock Down 0.6 %

The firm has a market cap of $19.45 billion, a price-to-earnings ratio of 179.22, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78. The stock has a 50-day moving average of $15.71 and a 200-day moving average of $11.05. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter 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 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the sale, the director now directly owns 25,937 shares of the company’s stock, valued at $415,510.74. The trade was a 66.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,008,870 shares of company stock worth $416,950,073. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hanseatic Management Services Inc. bought a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $1,116,000. Charles Schwab Investment Management Inc. boosted its stake in SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares in the last quarter. Zacks Investment Management acquired a new position in shares of SoFi Technologies during the 3rd quarter valued at $3,766,000. Citizens Financial Group Inc. RI raised its stake in shares of SoFi Technologies by 41.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock worth $1,892,000 after buying an additional 70,603 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 buying an additional 2,688,847 shares during the period. 38.43% of the stock is currently owned by institutional investors.

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.