SoFi Technologies (NASDAQ:SOFI) Trading Up 1.7% – Still a Buy?

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

Analyst Ratings Changes

SOFI has been the subject of a number of analyst reports. UBS Group boosted their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Morgan Stanley upped their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Jefferies Financial Group upped their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Barclays upped their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Up 6.7 %

The stock has a market capitalization of $17.59 billion, a PE ratio of 43.81, a PEG ratio of 2.04 and a beta of 1.77. The firm’s fifty day moving average is $15.69 and its 200-day moving average is $11.88. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company earned $0.04 earnings per share. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the transaction, the director now directly owns 482,083 shares of the company’s stock, valued at approximately $7,742,252.98. This trade represents a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock valued at $416,950,073 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several large investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV grew its position in shares of SoFi Technologies by 17.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 172,984 shares of the company’s stock valued at $2,664,000 after purchasing an additional 25,480 shares during the last quarter. Talon Private Wealth LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $1,069,000. Voleon Capital Management LP acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $2,031,000. Utah Retirement Systems grew its position in shares of SoFi Technologies by 2.8% in the fourth quarter. Utah Retirement Systems now owns 175,300 shares of the company’s stock valued at $2,700,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $1,963,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.