SoFi Technologies (NASDAQ:SOFI) Hits New 52-Week High - Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $10.50 and last traded at $10.36, with a volume of 6169928 shares. The stock had previously closed at $10.18.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SOFI shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Barclays cut their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a "market perform" rating for the company in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $9.25.

SoFi Technologies Stock Performance

The stock's 50 day moving average price is $7.99 and its 200 day moving average price is $7.35. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The firm has a market cap of $11.00 billion, a PE ratio of -33.55, a P/E/G ratio of 1.72 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company had revenue of $598.60 million for the quarter, compared to analysts' expectations of $565.19 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. The firm's quarterly revenue was up 20.2% on a year-over-year basis. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares of the company's stock, valued at $1,290,472.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares in the company, valued at $1,290,472.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,328 shares of company stock valued at $808,246 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock worth $86,478,000 after buying an additional 9,482,683 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company's stock valued at $78,601,000 after acquiring an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. raised its stake in SoFi Technologies by 176.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company's stock valued at $78,494,000 after acquiring an additional 6,870,610 shares in the last quarter. Marshall Wace LLP boosted its position in SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company's stock worth $42,026,000 after acquiring an additional 3,593,464 shares during the period. Finally, Mizuho Markets Americas LLC grew its stake in shares of SoFi Technologies by 403.4% in the second quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company's stock worth $20,132,000 after purchasing an additional 2,440,745 shares in 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.