SoFi Technologies (NASDAQ:SOFI) Trading Up 7.1% - Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 7.1% during mid-day trading on Friday . The stock traded as high as $16.11 and last traded at $16.28. Approximately 20,814,383 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 42,244,480 shares. The stock had previously closed at $15.19.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SOFI shares. Bank of America reissued an "underperform" rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Jefferies Financial Group boosted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. UBS Group upped their price objective on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. Finally, Barclays boosted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $12.50.

SoFi Technologies Trading Up 6.7 %

The firm's 50-day simple moving average is $15.69 and its 200 day simple moving average is $11.94. The stock has a market cap of $17.59 billion, a P/E ratio of 43.81, a PEG ratio of 2.04 and a beta of 1.77. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 earnings per share. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.27 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing 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 the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Insiders have sold a total of 26,008,870 shares of company stock worth $416,950,073 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after purchasing an additional 8,898,879 shares in the last quarter. State Street Corp grew its position in SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company's stock worth $141,974,000 after buying an additional 310,532 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of SoFi Technologies by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after buying an additional 315,899 shares in the last quarter. Norges Bank acquired a new stake in shares of SoFi Technologies during the 4th quarter valued at $103,678,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of SoFi Technologies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock worth $97,230,000 after acquiring an additional 167,780 shares in the last quarter. 38.43% of the stock is currently 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.