SoFi Technologies (NASDAQ:SOFI) Trading 5.9% Higher - Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price was up 5.9% during trading on Wednesday . The stock traded as high as $12.35 and last traded at $11.93. Approximately 19,451,388 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 46,258,970 shares. The stock had previously closed at $11.27.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of analyst reports. William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Finally, Citizens Jmp started coverage on SoFi Technologies in a research note on Friday. They set an "outperform" rating and a $17.00 price target on the stock. Four analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of "Hold" and an average target price of $12.82.

SoFi Technologies Stock Performance

The stock has a 50-day moving average price of $12.27 and a 200 day moving average price of $13.58. The firm has a market capitalization of $14.12 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 2.24 and a beta of 1.86. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates 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 prior year, the firm posted $0.04 EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the business'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 sale, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now directly owns 169,626 shares of the company's stock, valued at $2,617,329.18. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,172 shares of company stock valued at $1,271,115. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOFI. KBC Group NV boosted its stake in SoFi Technologies by 9.9% during the 1st quarter. KBC Group NV now owns 44,734 shares of the company's stock worth $520,000 after purchasing an additional 4,019 shares during the period. Clay Northam Wealth Management LLC boosted its stake in shares of SoFi Technologies by 8.7% during the first quarter. Clay Northam Wealth Management LLC now owns 16,665 shares of the company's stock worth $194,000 after buying an additional 1,329 shares during the period. Highland Capital Management LLC acquired a new position in SoFi Technologies in the 1st quarter valued at about $1,025,000. Mirae Asset Global Investments Co. Ltd. lifted its position in SoFi Technologies by 1,085.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,124 shares of the company's stock worth $478,000 after acquiring an additional 37,655 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of SoFi Technologies in the 1st quarter valued at approximately $529,000. 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.