SoFi Technologies (NASDAQ:SOFI) Trading Up 0.1% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 0.1% during trading on Tuesday . The company traded as high as $15.84 and last traded at $15.71. 9,382,976 shares were traded during mid-day trading, a decline of 80% from the average session volume of 47,447,789 shares. The stock had previously closed at $15.70.

Analysts Set New Price Targets

A number of brokerages have issued reports on SOFI. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Needham & Company LLC upped their price objective on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Mizuho boosted their price target 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. Jefferies Financial Group increased their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.80.

SoFi Technologies Trading Down 1.9 %

The firm has a market capitalization of $16.71 billion, a PE ratio of 157.12, a P/E/G ratio of 2.59 and a beta of 1.60. The company’s fifty day simple moving average is $10.59 and its 200-day simple moving average is $8.28. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results 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 analyst estimates of $631.59 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the transaction, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,287 shares of company stock valued at $863,250 over the last 90 days. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake 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 worth $86,478,000 after acquiring an additional 9,482,683 shares during the period. Marshall Wace LLP lifted its position in SoFi Technologies by 130.0% in the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after purchasing an additional 3,593,464 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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 valued at $30,971,000 after purchasing an additional 2,688,847 shares in the last quarter. Mizuho Markets Americas LLC increased its position in SoFi Technologies by 403.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock worth $20,132,000 after purchasing an additional 2,440,745 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $16,014,000. Hedge funds and other 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.