SoFi Technologies (NASDAQ:SOFI) Trading 6.7% Higher - Should You Buy?

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

Analyst Ratings Changes

SOFI has been the subject of several recent analyst reports. Morgan Stanley upped their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research note on Thursday, December 19th. Bank of America reissued an "underperform" rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. UBS Group upped their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, Citigroup upped their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $12.50.

SoFi Technologies Stock Performance

The firm has a market capitalization of $16.88 billion, a P/E ratio of 42.05, a price-to-earnings-growth ratio of 2.43 and a beta of 1.77. 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 50-day moving average of $15.73 and a 200 day moving average of $12.13.

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

Insider Transactions at SoFi Technologies

In other news, Director Bashir Ruzwana sold 52,000 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the transaction, the director now owns 25,937 shares in the company, valued at $415,510.74. This trade represents a 66.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the transaction, the executive vice president now owns 178,811 shares of the company's stock, valued at $3,143,497.38. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,999,280 shares of company stock worth $416,810,442 in the last three months. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently modified their holdings of SOFI. Stratos Wealth Advisors LLC grew its holdings in shares of SoFi Technologies by 3.3% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company's stock valued at $256,000 after acquiring an additional 1,054 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of SoFi Technologies by 67.9% in the 3rd quarter. Blue Trust Inc. now owns 13,606 shares of the company's stock valued at $107,000 after acquiring an additional 5,504 shares in the last quarter. Raymond James & Associates grew its holdings in shares of SoFi Technologies by 2.1% in the 3rd quarter. Raymond James & Associates now owns 531,363 shares of the company's stock valued at $4,177,000 after acquiring an additional 11,062 shares in the last quarter. Foundations Investment Advisors LLC bought a new position in shares of SoFi Technologies in the 3rd quarter valued at about $137,000. Finally, Calton & Associates Inc. grew its holdings in SoFi Technologies by 33.2% during the third quarter. Calton & Associates Inc. now owns 40,440 shares of the company's stock worth $318,000 after purchasing an additional 10,090 shares during the period. 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.