SoFi Technologies (NASDAQ:SOFI) Sets New 52-Week High – Time to Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) reached a new 52-week high on Tuesday . The stock traded as high as $17.46 and last traded at $17.04, with a volume of 10978991 shares traded. The stock had previously closed at $16.50.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Jefferies Financial Group upped their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. William Blair assumed coverage on SoFi Technologies in a report on Wednesday, January 15th. They set an “outperform” rating on the stock. Barclays lifted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their target price 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, Mizuho lifted their price target 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 equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.71.

SoFi Technologies Trading Down 1.7 %

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 market capitalization of $19.09 billion, a P/E ratio of 175.92, a P/E/G ratio of 1.21 and a beta of 1.78. The firm’s 50-day moving average price is $15.53 and its 200 day moving average price is $10.89.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm 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 3.71% and a net margin of 8.38%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 9,590 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the sale, the executive vice president now owns 142,613 shares in the company, valued at $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,999,956 shares of company stock worth $416,793,365 in the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position 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 worth $86,478,000 after buying an additional 9,482,683 shares in the last quarter. Marshall Wace LLP increased its stake in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after acquiring an additional 3,593,464 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised 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 acquiring an additional 2,688,847 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $16,014,000. Finally, Hsbc Holdings PLC grew its holdings in shares of SoFi Technologies by 337.6% during the second quarter. Hsbc Holdings PLC now owns 719,243 shares of the company’s stock worth $4,715,000 after purchasing an additional 554,866 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

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.