SoFi Technologies (NASDAQ:SOFI) Trading Up 4.1% – Should You Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 4.1% during trading on Friday . The stock traded as high as $16.16 and last traded at $16.12. Approximately 48,218,577 shares changed hands during trading, a decline of 12% from the average daily volume of 54,705,432 shares. The stock had previously closed at $15.49.

Wall Street Analyst Weigh In

Several analysts have recently commented on SOFI shares. Mizuho raised their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group increased their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays increased 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. Jefferies Financial Group increased 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. Finally, Needham & Company LLC increased their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.80.

SoFi Technologies Stock Up 4.1 %

The company has a market capitalization of $17.49 billion, a P/E ratio of 161.22, a PEG ratio of 2.68 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a 50 day moving average price of $10.90 and a 200 day moving average price of $8.40.

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

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,590 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the sale, the executive vice president now directly owns 142,613 shares in the company, valued at approximately $2,076,445.28. The trade was a 6.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated 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 of the company’s stock, valued at $4,234,620.60. The trade was a 11.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,287 shares of company stock worth $863,250. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SOFI. Dimensional Fund Advisors LP raised its holdings in shares of SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Marshall Wace LLP grew its stake in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after buying an additional 3,593,464 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after buying an additional 2,688,847 shares during the last quarter. Mizuho Markets Americas LLC raised its position in shares of SoFi Technologies by 403.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after buying an additional 2,440,745 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of SoFi Technologies during the 3rd quarter worth $16,014,000. 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.