SoFi Technologies (NASDAQ:SOFI) Shares Up 6.7% - Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 6.7% during trading on Monday . The stock traded as high as $16.42 and last traded at $16.21. Approximately 63,149,894 shares changed hands during mid-day trading, an increase of 45% from the average daily volume of 43,586,292 shares. The stock had previously closed at $15.19.

Analyst Upgrades and Downgrades

SOFI has been the subject of several analyst reports. The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Morgan Stanley raised their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a report on Thursday, December 19th. Mizuho raised their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Barclays raised their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Finally, William Blair reissued an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $12.50.

SoFi Technologies Stock Performance

The company's 50-day moving average price is $15.73 and its two-hundred day moving average price is $12.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a market cap of $15.92 billion, a PE ratio of 39.65, a PEG ratio of 2.33 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $0.04 EPS. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In related news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the transaction, the executive vice president now owns 187,725 shares in the company, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of SoFi Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,999,280 shares of company stock worth $416,810,442. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently added to or reduced their stakes in the business. Forum Financial Management LP raised its position in SoFi Technologies by 15.2% in the 4th quarter. Forum Financial Management LP now owns 41,446 shares of the company's stock worth $638,000 after purchasing an additional 5,475 shares during the period. Warm Springs Advisors Inc. purchased a new position in shares of SoFi Technologies in the fourth quarter valued at about $2,464,000. CTC Alternative Strategies Ltd. purchased a new position in shares of SoFi Technologies in the fourth quarter valued at about $265,000. Parr Mcknight Wealth Management Group LLC purchased a new position in shares of SoFi Technologies in the fourth quarter valued at about $162,000. Finally, Sunbelt Securities Inc. increased its position in shares of SoFi Technologies by 849.4% in the fourth quarter. Sunbelt Securities Inc. now owns 9,750 shares of the company's stock valued at $152,000 after acquiring an additional 8,723 shares during the period. Hedge funds and other institutional investors own 38.43% of the company's stock.

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.