SoFi Technologies (NASDAQ:SOFI) Trading 2.1% Higher - Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price traded up 2.1% on Wednesday . The stock traded as high as $15.85 and last traded at $15.81. 11,033,157 shares were traded during mid-day trading, a decline of 77% from the average session volume of 47,412,793 shares. The stock had previously closed at $15.49.

Analysts Set New Price Targets

SOFI has been the subject of a number of research reports. Needham & Company LLC increased their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Mizuho raised their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. Citigroup lowered SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group boosted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $9.80.

SoFi Technologies Stock Up 3.6 %

The company's fifty day simple moving average is $10.59 and its 200 day simple moving average is $8.28. 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 market capitalization of $17.41 billion, a PE ratio of 158.12, a price-to-earnings-growth ratio of 2.61 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping 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 company had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. The firm's revenue for the quarter was up 29.8% on a year-over-year basis. Analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares of the company's stock, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 9,590 shares of the 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 completion of the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,287 shares of company stock valued at $863,250. Insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently modified their holdings of the stock. Citizens Financial Group Inc. RI increased its position in shares of SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company's stock worth $1,892,000 after acquiring an additional 70,603 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of 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 during the period. Mount Lucas Management LP acquired a new position in shares of SoFi Technologies during the third quarter worth about $920,000. Consolidated Investment Group LLC raised its holdings in shares of SoFi Technologies by 119.0% in the 3rd quarter. Consolidated Investment Group LLC now owns 138,000 shares of the company's stock valued at $1,085,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in SoFi Technologies by 4,252.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company's stock worth $585,000 after purchasing an additional 86,545 shares during the last quarter. 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.

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