SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.7% - Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares shot up 2.7% during mid-day trading on Monday . The stock traded as high as $15.40 and last traded at $15.31. 10,390,051 shares traded hands during trading, a decline of 76% from the average session volume of 43,456,211 shares. The stock had previously closed at $14.91.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SOFI. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Jefferies Financial Group upped their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Citigroup upped their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Bank of America reiterated an "underperform" rating and set a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. Finally, Barclays upped 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. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies has a consensus rating of "Hold" and a consensus price target of $12.50.

SoFi Technologies Stock Up 6.7 %

The firm has a 50-day moving average price of $15.69 and a 200 day moving average price of $11.91. 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 $17.59 billion, a price-to-earnings ratio of 43.81, a P/E/G ratio of 2.04 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 in the prior year, the business earned $0.04 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.27 EPS for the current year.

Insider Buying and Selling

In related news, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the sale, the director now owns 25,937 shares of the company's stock, valued at $415,510.74. This represents a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,008,870 shares of company stock valued at $416,950,073 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC lifted its stake in SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after purchasing an additional 685 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock valued at $233,000 after acquiring an additional 809 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in shares of SoFi Technologies by 0.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company's stock valued at $2,204,000 after acquiring an additional 855 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of SoFi Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company's stock valued at $223,000 after acquiring an additional 962 shares during the last quarter. Finally, Oak Harbor Wealth Partners LLC lifted its stake in shares of SoFi Technologies by 10.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company's stock valued at $86,000 after acquiring an additional 1,000 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.