SoFi Technologies (NASDAQ:SOFI) Shares Up 1.1% - Time to Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shot up 1.1% during trading on Tuesday . The stock traded as high as $10.57 and last traded at $10.51. 11,622,266 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 45,720,230 shares. The stock had previously closed at $10.40.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Citigroup downgraded shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday. Keefe, Bruyette & Woods decreased their target price 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. Barclays dropped their price target on SoFi Technologies from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 9th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $10.00 price target on shares of SoFi Technologies in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $9.25.

SoFi Technologies Stock Up 1.7 %

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 company has a fifty day moving average price of $7.99 and a 200 day moving average price of $7.35. The company has a market cap of $11.19 billion, a PE ratio of -34.13, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70.

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

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 24,939 shares of the firm'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 completion of the sale, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,328 shares of company stock worth $808,246 in the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock valued at $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of SoFi Technologies by 176.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company's stock valued at $78,601,000 after buying an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. raised its stake in SoFi Technologies by 176.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company's stock worth $78,494,000 after buying an additional 6,870,610 shares in the last quarter. Marshall Wace LLP lifted its holdings in SoFi Technologies by 130.0% in the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company's stock worth $42,026,000 after buying an additional 3,593,464 shares during the period. Finally, Mizuho Markets Americas LLC boosted its position in SoFi Technologies by 403.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company's stock valued at $20,132,000 after acquiring an additional 2,440,745 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other 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.