SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.8% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price shot up 0.8% during trading on Wednesday . The stock traded as high as $15.54 and last traded at $15.41. 9,602,531 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 44,484,129 shares. The stock had previously closed at $15.29.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SOFI shares. Needham & Company LLC boosted their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Barclays raised 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. Mizuho boosted their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Citigroup lifted their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Bank of America reissued an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Trading Up 0.9 %

The business’s fifty day moving average is $15.83 and its 200 day moving average is $11.50. The stock has a market cap of $16.75 billion, a PE ratio of 41.75, a P/E/G ratio of 2.12 and a beta of 1.78. 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) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the firm earned $0.04 EPS. As a group, analysts predict that SoFi Technologies, Inc. will post 0.28 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,008,870 shares of company stock valued at $416,950,073. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. increased its position in SoFi Technologies by 9.7% during the 4th quarter. QRG Capital Management Inc. now owns 280,791 shares of the company’s stock worth $4,324,000 after purchasing an additional 24,713 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in SoFi Technologies during the fourth quarter valued at about $513,000. Oppenheimer & Co. Inc. boosted its stake in SoFi Technologies by 47.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 365,439 shares of the company’s stock worth $5,628,000 after acquiring an additional 118,288 shares in the last quarter. Nwam LLC grew its stake in shares of SoFi Technologies by 11.3% in the fourth quarter. Nwam LLC now owns 44,635 shares of the company’s stock worth $687,000 after acquiring an additional 4,531 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in SoFi Technologies by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,223,370 shares of the company’s stock worth $49,640,000 after acquiring an additional 8,218 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.