SoFi Technologies (NASDAQ:SOFI) Shares Up 6.7% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 6.7% on Monday . The stock traded as high as $16.42 and last traded at $16.21. 63,149,894 shares were traded during trading, an increase of 45% from the average session volume of 43,586,292 shares. The stock had previously closed at $15.19.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SOFI. JPMorgan Chase & Co. upped their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. UBS Group upped their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Barclays upped their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Stock Down 3.9 %

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 cap of $17.56 billion, a PE ratio of 43.73, a P/E/G ratio of 2.34 and a beta of 1.77. The stock has a 50-day moving average of $15.73 and a 200-day moving average of $12.08.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the prior year, the business earned $0.04 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the sale, the executive vice president now owns 187,725 shares in the company, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Eric Schuppenhauer purchased 30,600 shares of the stock in a transaction on Monday, December 16th. The shares were purchased at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the transaction, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 25,999,280 shares of company stock worth $416,810,442 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SOFI. Two Sigma Advisers LP bought a new position in shares of SoFi Technologies during the fourth quarter valued at about $299,980,000. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after buying an additional 8,898,879 shares during the last quarter. Norges Bank bought a new position in shares of SoFi Technologies during the fourth quarter valued at about $103,678,000. Voloridge Investment Management LLC bought a new position in shares of SoFi Technologies during the fourth quarter valued at about $75,139,000. Finally, Amundi grew its stake in shares of SoFi Technologies by 58,176.3% during the fourth quarter. Amundi now owns 2,705,185 shares of the company’s stock valued at $39,360,000 after buying an additional 2,700,543 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

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.