SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.5% - Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) rose 0.5% on Wednesday . The company traded as high as $15.52 and last traded at $15.37. Approximately 10,946,853 shares traded hands during trading, a decline of 77% from the average daily volume of 47,445,527 shares. The stock had previously closed at $15.29.

Analyst Upgrades and Downgrades

SOFI has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, December 2nd. Citigroup lowered SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Mizuho increased their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Finally, Bank of America reiterated an "underperform" rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $10.50.

SoFi Technologies Trading Up 4.1 %

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average price of $12.35 and a 200 day moving average price of $8.96. The stock has a market capitalization of $17.28 billion, a PE ratio of 153.70, a P/E/G ratio of 2.66 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. 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 return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. During the same period last year, the business earned ($0.03) EPS. The business's revenue was up 29.8% on a year-over-year basis. Equities analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the transaction, the director now owns 482,083 shares in the company, valued at approximately $7,742,252.98. This represents a 78.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,960,748 shares of company stock valued at $415,523,316 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock worth $86,478,000 after purchasing an additional 9,482,683 shares during the period. Marshall Wace LLP boosted its holdings in SoFi Technologies by 130.0% in the 2nd 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. Connor Clark & Lunn Investment Management Ltd. grew its stake in SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock valued at $30,971,000 after buying an additional 2,688,847 shares in the last quarter. Mizuho Markets Americas LLC raised its holdings 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 during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of SoFi Technologies during the third quarter worth $16,014,000. 38.43% of the stock is owned by 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.

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