SoFi Technologies (NASDAQ:SOFI) Shares Up 1.2% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 1.2% during mid-day trading on Monday . The stock traded as high as $16.73 and last traded at $16.50. 40,249,333 shares traded hands during mid-day trading, an increase of 12% from the average session volume of 36,048,924 shares. The stock had previously closed at $16.30.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SOFI shares. Morgan Stanley boosted their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Bank of America reaffirmed an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. Jefferies Financial Group increased their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Mizuho boosted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.71.

SoFi Technologies Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market capitalization of $17.90 billion, a price-to-earnings ratio of 165.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. The firm has a fifty day moving average price of $15.32 and a 200-day moving average price of $10.69.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data 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. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the prior year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares in the company, valued at $2,926,632.75. This represents a 4.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,999,956 shares of company stock valued at $416,793,365 over the last three months. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after buying an additional 9,482,683 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in SoFi Technologies by 7.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 70,401 shares of the company’s stock worth $465,000 after purchasing an additional 4,661 shares in the last quarter. Amalgamated Bank raised its position in SoFi Technologies by 10.7% in the second quarter. Amalgamated Bank now owns 58,529 shares of the company’s stock valued at $387,000 after purchasing an additional 5,661 shares during the last quarter. Hsbc Holdings PLC boosted its stake 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 valued at $4,715,000 after purchasing an additional 554,866 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of SoFi Technologies by 4,252.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after purchasing an additional 86,545 shares during the last quarter. 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.