SoFi Technologies (NASDAQ:SOFI) Trading 0.2% Higher – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was up 0.2% during mid-day trading on Monday . The company traded as high as $15.64 and last traded at $15.38. Approximately 9,516,992 shares traded hands during trading, a decline of 80% from the average daily volume of 47,601,473 shares. The stock had previously closed at $15.35.

Analyst Upgrades and Downgrades

SOFI has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC increased their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Mizuho boosted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group upped their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.04.

SoFi Technologies Stock Up 2.5 %

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a 50 day simple moving average of $13.78 and a two-hundred day simple moving average of $9.59. The company has a market capitalization of $17.38 billion, a P/E ratio of 160.22, a PEG ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Eric Schuppenhauer acquired 30,600 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average cost of $16.34 per share, with a total value of $500,004.00. Following the completion of the purchase, the executive vice president now owns 46,105 shares of the company’s stock, valued at $753,355.70. This trade represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 26,009,264 shares of company stock worth $416,889,795 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares during the last quarter. Marshall Wace LLP lifted its position in shares of SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after buying an additional 3,593,464 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after buying an additional 2,688,847 shares in the last quarter. Mizuho Markets Americas LLC grew its position in shares of SoFi Technologies by 403.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock worth $20,132,000 after buying an additional 2,440,745 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $16,014,000. Institutional investors own 38.43% of the company’s stock.

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.