SoFi Technologies (NASDAQ:SOFI) Trading Up 3.2% - Still a Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded up 3.2% on Monday . The company traded as high as $14.11 and last traded at $14.07. 13,418,675 shares were traded during mid-day trading, a decline of 72% from the average session volume of 47,439,961 shares. The stock had previously closed at $13.63.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SOFI. Citigroup downgraded shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Finally, Barclays increased their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and a consensus target price of $9.40.

SoFi Technologies Stock Performance

The company's 50 day moving average price is $9.70 and its 200-day moving average price is $7.95. The stock has a market cap of $14.82 billion, a P/E ratio of 140.71, a price-to-earnings-growth ratio of 2.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.21 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same period in the prior year, the firm posted ($0.03) EPS. The firm's quarterly revenue was up 29.8% compared to the same quarter last year. Equities analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares of the company's stock, valued at $1,576,823.08. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,636 shares of company stock valued at $904,677 in the last three months. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SOFI. Capital Performance Advisors LLP bought a new position in SoFi Technologies in the 3rd quarter worth about $27,000. Brooklyn Investment Group bought a new stake in SoFi Technologies during the third quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC grew its stake in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock worth $29,000 after buying an additional 1,543 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock worth $33,000 after buying an additional 1,981 shares during the last quarter. Finally, Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies during the 3rd quarter valued at $39,000. 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.

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