SoFi Technologies (NASDAQ:SOFI) Trading Up 0.7% - Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price was up 0.7% during trading on Wednesday . The stock traded as high as $9.93 and last traded at $9.57. Approximately 17,840,509 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 45,642,663 shares. The stock had previously closed at $9.50.

Analyst Ratings Changes

A number of research firms have recently issued reports on SOFI. Keefe, Bruyette & Woods restated an "underperform" rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Citigroup upped their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley raised their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research note on Thursday, December 19th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and an average target price of $12.50.

SoFi Technologies Trading Up 1.8 %

The business has a 50 day simple moving average of $13.02 and a 200 day simple moving average of $13.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a market cap of $11.74 billion, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $0.04 EPS. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the transaction, the executive vice president now directly owns 226,210 shares in the company, valued at $2,877,391.20. This trade represents a 4.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,905 shares of company stock valued at $1,308,075 over the last quarter. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently bought and sold shares of SOFI. FMR LLC raised its stake in SoFi Technologies by 154.8% in the third quarter. FMR LLC now owns 92,632 shares of the company's stock valued at $728,000 after buying an additional 56,279 shares during the period. Captrust Financial Advisors raised its stake in SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock valued at $233,000 after purchasing an additional 809 shares in the last quarter. State Street Corp grew its stake in SoFi Technologies by 1.7% during 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 in the last quarter. Wellington Management Group LLP increased its holdings in SoFi Technologies by 255.6% in the 3rd quarter. Wellington Management Group LLP now owns 25,305 shares of the company's stock valued at $199,000 after buying an additional 41,565 shares during the period. Finally, M&T Bank Corp raised its position in shares of SoFi Technologies by 5.4% in the 3rd quarter. M&T Bank Corp now owns 45,582 shares of the company's stock valued at $359,000 after buying an additional 2,332 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

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.