SoFi Technologies (NASDAQ:SOFI) Shares Up 2.7% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 2.7% during mid-day trading on Thursday . The stock traded as high as $28.06 and last traded at $27.72. 50,222,009 shares were traded during trading, a decline of 27% from the average session volume of 68,554,383 shares. The stock had previously closed at $27.00.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial decreased their target price on shares of SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, November 25th. Citigroup increased their price target on SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. Barclays upped their target price on SoFi Technologies from $23.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Morgan Stanley raised their target price on SoFi Technologies from $13.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.50.

SoFi Technologies Price Performance

The stock has a 50-day simple moving average of $27.83 and a 200 day simple moving average of $25.44. The company has a market cap of $33.43 billion, a PE ratio of 51.33, a P/E/G ratio of 1.69 and a beta of 1.92. The company has a quick ratio of 0.16, a current ratio of 0.80 and a debt-to-equity ratio of 0.31.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $949.63 million during the quarter, compared to the consensus estimate of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The company’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period last year, the company earned $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Equities analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, insider Arun Pinto sold 46,132 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $24.76, for a total value of $1,142,228.32. Following the completion of the transaction, the insider owned 138,396 shares in the company, valued at $3,426,684.96. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 10,340 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $26.43, for a total value of $273,286.20. Following the sale, the executive vice president owned 265,034 shares in the company, valued at approximately $7,004,848.62. This trade represents a 3.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 167,813 shares of company stock worth $4,403,334. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of large investors have recently made changes to their positions in SOFI. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in SoFi Technologies by 12.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,879,959 shares of the company’s stock worth $88,864,000 after buying an additional 540,610 shares in the last quarter. Sullivan Wood Capital Management LLC purchased a new stake in shares of SoFi Technologies in the second quarter valued at $2,799,000. Blair William & Co. IL boosted its stake in shares of SoFi Technologies by 443.9% during the second quarter. Blair William & Co. IL now owns 335,698 shares of the company’s stock valued at $6,113,000 after acquiring an additional 273,972 shares during the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in SoFi Technologies during the 2nd quarter worth about $209,000. Finally, Quantbot Technologies LP acquired a new position in SoFi Technologies in the 2nd quarter valued at about $25,699,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Company Profile

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.