SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.6% - Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price rose 0.6% on Monday . The company traded as high as $13.38 and last traded at $12.96. Approximately 26,686,883 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 46,363,590 shares. The stock had previously closed at $12.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup lifted their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. UBS Group upped their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Finally, Citizens Jmp assumed coverage on SoFi Technologies in a report on Friday. They set an "outperform" rating and a $17.00 price target for the company. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and an average price target of $13.10.

SoFi Technologies Stock Performance

The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 35.26, a P/E/G ratio of 2.24 and a beta of 1.86. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock's 50 day moving average price is $12.20 and its 200 day moving average price is $13.68.

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

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares in the company, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the 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 transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,172 shares of company stock valued at $1,271,115. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at $27,000. Hollencrest Capital Management purchased a new position in SoFi Technologies during the fourth quarter worth $31,000. Garde Capital Inc. purchased a new position in shares of SoFi Technologies during the 1st quarter worth about $31,000. Mpwm Advisory Solutions LLC purchased a new position in SoFi Technologies in the fourth quarter valued at approximately $32,000. Finally, FNY Investment Advisers LLC raised its holdings in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after buying an additional 1,905 shares during the period. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.