SoFi Technologies (NASDAQ:SOFI) Stock Price Up 3.2% – Time to Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 3.2% during trading on Monday . The stock traded as high as $15.38 and last traded at $15.32. 13,168,997 shares were traded during trading, a decline of 69% from the average session volume of 42,708,215 shares. The stock had previously closed at $14.84.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Morgan Stanley boosted their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Finally, Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.13.

SoFi Technologies Price Performance

The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a market cap of $15.79 billion, a PE ratio of 145.51, a P/E/G ratio of 2.70 and a beta of 1.78. The company’s 50 day moving average is $14.76 and its 200-day moving average is $10.21.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) earnings per share. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Eric Schuppenhauer bought 30,600 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was purchased at an average price of $16.34 per share, with a total value of $500,004.00. Following the transaction, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. This represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 26,009,264 shares of company stock worth $416,889,795. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently added to or reduced their stakes in SOFI. Charles Schwab Investment Management Inc. lifted its position in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after buying an additional 87,097 shares during the last quarter. Zacks Investment Management bought a new position in SoFi Technologies in the third quarter worth about $3,766,000. Citizens Financial Group Inc. RI lifted its holdings in SoFi Technologies by 41.5% in the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock worth $1,892,000 after acquiring an additional 70,603 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $930,000. 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.