SoFi Technologies (NASDAQ:SOFI) Shares Up 2.6% - Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price rose 2.6% during mid-day trading on Tuesday . The company traded as high as $11.85 and last traded at $11.93. Approximately 10,797,645 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 44,901,857 shares. The stock had previously closed at $11.63.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SOFI. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Citigroup upped their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Finally, Bank of America reaffirmed an "underperform" rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $12.50.

SoFi Technologies Stock Up 2.2 %

The company has a market capitalization of $13.35 billion, a P/E ratio of 32.91, a P/E/G ratio of 2.24 and a beta of 1.79. 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 fifty day simple moving average of $14.20 and a 200-day simple moving average of $13.31.

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SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating 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 period in the previous year, the firm earned $0.04 earnings per share. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the firm's 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 completion of the transaction, the chief technology officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,905 shares of company stock worth $1,308,075. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its position in shares of SoFi Technologies by 1.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 267,956 shares of the company's stock valued at $2,106,000 after acquiring an additional 4,130 shares during the period. D.A. Davidson & CO. grew its holdings in SoFi Technologies by 3.9% during the third quarter. D.A. Davidson & CO. now owns 87,664 shares of the company's stock worth $689,000 after purchasing an additional 3,322 shares during the period. FMR LLC increased its position in SoFi Technologies by 154.8% during the third quarter. FMR LLC now owns 92,632 shares of the company's stock worth $728,000 after buying an additional 56,279 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in SoFi Technologies during the third quarter worth approximately $94,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of SoFi Technologies by 3.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 230,827 shares of the company's stock worth $1,814,000 after acquiring an additional 7,928 shares during the period. 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.