SoFi Technologies (NASDAQ:SOFI) Trading 0.8% Higher - Should You Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) rose 0.8% during mid-day trading on Monday . The company traded as high as $10.35 and last traded at $10.26. Approximately 5,643,871 shares traded hands during trading, a decline of 88% from the average daily volume of 45,705,363 shares. The stock had previously closed at $10.18.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. Barclays reduced their price target on SoFi Technologies from $10.00 to $8.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reduced their price target on SoFi Technologies from $7.50 to $7.00 and set a "market perform" rating for the company in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $9.25.

SoFi Technologies Stock Performance

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

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The business had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. During the same period in the prior year, the business posted ($0.06) earnings per share. SoFi Technologies's revenue was up 20.2% compared to the same quarter last year. Research analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 24,939 shares of the company's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares of the company's stock, valued at approximately $830,594.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Jeremy Rishel sold 68,081 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares of the company's stock, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the company's stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,328 shares of company stock valued at $808,246 over the last three months. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. ORG Partners LLC acquired a new position in SoFi Technologies in the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC increased its position in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock worth $29,000 after purchasing an additional 1,543 shares during the last quarter. GAMMA Investing LLC increased its position in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock worth $33,000 after purchasing an additional 1,981 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in SoFi Technologies in the 1st quarter worth about $37,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in SoFi Technologies in the 3rd quarter worth about $47,000. 38.43% of the stock is 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.