SoFi Technologies (NASDAQ:SOFI) Trading Up 1.2% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFIGet Free Report) shares were up 1.2% during mid-day trading on Monday . The stock traded as high as $16.73 and last traded at $16.50. Approximately 40,249,333 shares changed hands during trading, an increase of 12% from the average daily volume of 36,048,924 shares. The stock had previously closed at $16.30.

Analysts Set New Price Targets

A number of research analysts have recently commented on SOFI shares. Morgan Stanley boosted their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Barclays upped their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. increased their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Finally, Mizuho upped their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.71.

View Our Latest Analysis on SoFi Technologies

SoFi Technologies Price Performance

The firm has a market capitalization of $19.42 billion, a price-to-earnings ratio of 179.02, a PEG ratio of 1.12 and a beta of 1.78. The business’s fifty day simple moving average is $15.45 and its 200 day simple moving average is $10.84. 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:SOFIGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction of $138,969.26. Following the sale, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric Schuppenhauer acquired 30,600 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the transaction, the executive vice president now directly owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 25,999,956 shares of company stock valued at $416,793,365 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of SoFi Technologies by 7.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 70,401 shares of the company’s stock worth $465,000 after purchasing an additional 4,661 shares during the last quarter. Amalgamated Bank lifted its position in shares of SoFi Technologies by 10.7% during the second quarter. Amalgamated Bank now owns 58,529 shares of the company’s stock worth $387,000 after purchasing an additional 5,661 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of SoFi Technologies by 337.6% in the second quarter. Hsbc Holdings PLC now owns 719,243 shares of the company’s stock valued at $4,715,000 after acquiring an additional 554,866 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of SoFi Technologies by 4,252.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock valued at $585,000 after acquiring an additional 86,545 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

About SoFi Technologies

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for SoFi Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SoFi Technologies and related companies with MarketBeat.com's FREE daily email newsletter.