SoFi Technologies (NASDAQ:SOFI) Stock Price Up 4.5% - Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price was up 4.5% on Monday . The company traded as high as $13.48 and last traded at $13.45. Approximately 18,576,810 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 44,430,239 shares. The stock had previously closed at $12.87.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SOFI. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, December 2nd. The Goldman Sachs Group increased their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Morgan Stanley boosted their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a report on Thursday, December 19th. Finally, Needham & Company LLC upped their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $12.50.

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SoFi Technologies Price Performance

The stock has a 50-day moving average of $14.66 and a two-hundred day moving average of $13.10. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of 37.23, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. 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 announced its earnings results on Monday, January 27th. The company reported $0.05 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 period in the previous year, the business earned $0.04 earnings per share. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of the 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 transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the transaction, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock valued at $1,308,075 in the last three months. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Several large investors have recently made changes to their positions in the stock. Two Sigma Advisers LP bought a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $299,980,000. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after purchasing an additional 8,898,879 shares in the last quarter. Norges Bank acquired a new stake in SoFi Technologies during the fourth quarter worth $103,678,000. Voloridge Investment Management LLC acquired a new stake in SoFi Technologies during the fourth quarter worth $75,139,000. Finally, Amundi increased its holdings in SoFi Technologies by 58,176.3% in the 4th quarter. Amundi now owns 2,705,185 shares of the company's stock valued at $39,360,000 after buying an additional 2,700,543 shares during the period. Institutional investors 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.