SoFi Technologies (NASDAQ:SOFI) Trading 2.8% Higher - Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares were up 2.8% on Monday . The stock traded as high as $10.65 and last traded at $9.84. Approximately 38,492,041 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 45,505,374 shares. The stock had previously closed at $9.57.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SOFI. Citigroup boosted their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. UBS Group increased their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $12.50.

SoFi Technologies Price Performance

The business has a fifty day moving average of $13.11 and a 200 day moving average of $13.39. 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 has a market cap of $11.42 billion, a PE ratio of 27.94, a P/E/G ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the company posted $0.04 earnings per share. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now owns 655,118 shares of the company's stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,905 shares of company stock worth $1,308,075. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SOFI. Berkshire Capital Holdings Inc. lifted its holdings in SoFi Technologies by 6,208,000.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock worth $9,560,000 after acquiring an additional 620,800 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $3,703,000. Hanseatic Management Services Inc. bought a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $1,116,000. Kercheville Advisors LLC bought a new position in SoFi Technologies during the 4th quarter worth $1,594,000. Finally, Baltimore Washington Financial Advisors Inc. grew its stake in SoFi Technologies by 12.9% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 592,930 shares of the company's stock worth $9,131,000 after buying an additional 67,779 shares during the last quarter. 38.43% of the stock is 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.