SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.2% - Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price shot up 1.2% on Monday . The stock traded as high as $16.09 and last traded at $15.79. 21,189,004 shares changed hands during trading, a decline of 55% from the average session volume of 47,497,129 shares. The stock had previously closed at $15.60.

Analyst Ratings Changes

A number of analysts recently weighed in on SOFI shares. Mizuho upped their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Barclays increased their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. The Goldman Sachs Group increased their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC boosted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $9.80.

SoFi Technologies Stock Up 0.6 %

The stock has a market cap of $17.04 billion, a price-to-earnings ratio of 157.92, a PEG ratio of 2.59 and a beta of 1.60. 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 firm's 50-day simple moving average is $10.44 and its two-hundred day simple moving average is $8.22.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) EPS. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Activity

In other news, CTO Jeremy Rishel sold 68,081 shares of the business's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares of the company's stock, valued at $4,234,620.60. The trade was a 11.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,287 shares of company stock valued at $863,250 in the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in SOFI. Russell Investments Group Ltd. increased its holdings in SoFi Technologies by 341.0% during the 1st quarter. Russell Investments Group Ltd. now owns 43,624 shares of the company's stock worth $318,000 after purchasing an additional 33,732 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in SoFi Technologies by 105.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 182,804 shares of the company's stock worth $1,335,000 after purchasing an additional 93,766 shares during the last quarter. Axxcess Wealth Management LLC bought a new position in SoFi Technologies in the first quarter valued at $185,000. Gabelli Funds LLC increased its stake in SoFi Technologies by 15.6% in the 1st quarter. Gabelli Funds LLC now owns 37,000 shares of the company's stock valued at $270,000 after buying an additional 5,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in SoFi Technologies by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 535,894 shares of the company's stock worth $3,913,000 after buying an additional 37,984 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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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