SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.5% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price shot up 1.5% on Thursday . The company traded as high as $12.10 and last traded at $11.99. 12,060,541 shares were traded during trading, a decline of 74% from the average session volume of 46,858,980 shares. The stock had previously closed at $11.81.

Wall Street Analyst Weigh In

SOFI has been the subject of several recent research reports. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Jefferies Financial Group raised their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC boosted their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Barclays boosted their target price 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus target price of $9.32.

SoFi Technologies Trading Up 9.3 %

The firm has a market cap of $13.87 billion, a P/E ratio of 130.11, a P/E/G ratio of 1.94 and a beta of 1.60. The business’s 50-day moving average is $9.08 and its two-hundred day moving average is $7.72. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.79% and a net margin of 8.38%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) earnings per share. As a group, 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 business’s stock in a transaction that occurred on 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 in the company, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SOFI. Citizens Financial Group Inc. RI boosted its position in shares of SoFi Technologies by 41.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after purchasing an additional 70,603 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in SoFi Technologies by 11.2% during the third quarter. Moors & Cabot Inc. now owns 853,690 shares of the company’s stock worth $6,710,000 after buying an additional 86,025 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in SoFi Technologies by 214.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after buying an additional 2,688,847 shares during the last quarter. SouthState Corp bought a new position in shares of SoFi Technologies in the third quarter valued at $67,000. Finally, Pathstone Holdings LLC lifted its position in shares of SoFi Technologies by 13.2% during the 3rd quarter. Pathstone Holdings LLC now owns 192,057 shares of the company’s stock valued at $1,510,000 after acquiring an additional 22,426 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

About SoFi Technologies

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.