SoFi Technologies (NASDAQ:SOFI) Shares Up 0.7% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 0.7% during trading on Wednesday . The stock traded as high as $9.93 and last traded at $9.57. 17,840,509 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 45,642,663 shares. The stock had previously closed at $9.50.

Analyst Ratings Changes

A number of research analysts have recently commented on SOFI shares. The Goldman Sachs Group upped their price objective 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. UBS Group upped their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Citigroup upped their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

The company has a market cap of $11.74 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86. The business’s 50 day moving average price is $13.11 and its 200-day moving average price is $13.39. 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 results 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 return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the company earned $0.04 earnings per share. As a group, analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,185 shares of the company’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 sale, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,905 shares of company stock worth $1,308,075 in the last ninety days. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently added to or reduced their stakes in the company. Two Sigma Advisers LP acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $299,980,000. Vanguard Group Inc. raised its stake in SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares during the period. Norges Bank bought a new position in SoFi Technologies in the fourth quarter worth about $103,678,000. Voloridge Investment Management LLC acquired a new position in SoFi Technologies in the fourth quarter valued at approximately $75,139,000. Finally, Amundi boosted its stake in SoFi Technologies by 58,176.3% in the fourth quarter. Amundi now owns 2,705,185 shares of the company’s stock valued at $39,360,000 after acquiring an additional 2,700,543 shares during the period. 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.