SoFi Technologies (NASDAQ:SOFI) Shares Up 5.3% - Should You Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) were up 5.3% on Friday . The company traded as high as $12.00 and last traded at $11.99. Approximately 10,667,141 shares traded hands during trading, a decline of 77% from the average daily volume of 46,260,914 shares. The stock had previously closed at $11.39.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SOFI shares. Bank of America reiterated an "underperform" rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. William Blair restated an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. UBS Group upped their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Finally, Mizuho upped their price target 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. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and a consensus target price of $12.50.

SoFi Technologies Trading Up 6.1 %

The firm has a market capitalization of $13.26 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company's 50-day simple moving average is $14.89 and its 200 day simple moving average is $12.85. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

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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 EPS 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 quarter last year, the business earned $0.04 earnings per share. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In related news, EVP Eric Schuppenhauer acquired 30,600 shares of the business's stock in a transaction dated Monday, December 16th. The shares were purchased at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the acquisition, the executive vice president now directly owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the company's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,004 shares of company stock worth $1,459,060 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after buying an additional 8,898,879 shares during the period. Two Sigma Advisers LP acquired a new position in SoFi Technologies in the 4th quarter worth approximately $299,980,000. State Street Corp increased its holdings in SoFi Technologies by 1.7% in the 3rd 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 during the period. Geode Capital Management LLC increased its holdings in SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after buying an additional 315,899 shares during the period. Finally, Norges Bank acquired a new position in SoFi Technologies in the 4th quarter worth approximately $103,678,000. Institutional investors and hedge funds 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.