SoFi Technologies (NASDAQ:SOFI) Trading 0.1% Higher – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 0.1% during trading on Tuesday . The stock traded as high as $11.48 and last traded at $11.20. 22,987,374 shares traded hands during trading, a decline of 50% from the average session volume of 46,292,258 shares. The stock had previously closed at $11.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Citigroup lifted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, Mizuho lifted their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

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 stock’s 50 day simple moving average is $15.00 and its two-hundred day simple moving average is $12.79. The stock has a market cap of $12.49 billion, a P/E ratio of 30.78, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS 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 period last year, the firm earned $0.04 EPS. As a group, research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were 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 approximately $2,926,632.75. The trade was a 4.53 % decrease in their ownership of the stock. The sale 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 on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. The trade was 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 92,004 shares of company stock valued at $1,459,060 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of SOFI. Two Sigma Advisers LP acquired a new position in shares of SoFi Technologies in the fourth quarter valued at $299,980,000. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after acquiring an additional 8,898,879 shares in the last quarter. Norges Bank acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $103,678,000. Voloridge Investment Management LLC acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $75,139,000. Finally, Amundi grew its stake in shares of SoFi Technologies by 58,176.3% in the fourth quarter. Amundi now owns 2,705,185 shares of the company’s stock valued at $39,360,000 after acquiring an additional 2,700,543 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.