SoFi Technologies (NASDAQ:SOFI) Trading Up 1.7% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was up 1.7% on Thursday . The stock traded as high as $15.36 and last traded at $15.02. Approximately 11,076,542 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 42,286,945 shares. The stock had previously closed at $14.77.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SOFI. Keefe, Bruyette & Woods reiterated 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. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Bank of America reiterated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Barclays lifted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Trading Up 6.7 %

The stock has a market cap of $17.59 billion, a PE ratio of 43.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. 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’s 50-day moving average price is $15.69 and its 200 day moving average price is $11.88.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the firm posted $0.04 EPS. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,008,870 shares of company stock valued at $416,950,073 over the last quarter. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

A number of large investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC increased its position in shares of SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock worth $881,000 after acquiring an additional 685 shares during the period. Captrust Financial Advisors increased its position in shares of SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after acquiring an additional 809 shares during the period. Summit Trail Advisors LLC grew its stake in shares of SoFi Technologies by 0.3% during the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after purchasing an additional 855 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after purchasing an additional 962 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC grew its stake in shares of SoFi Technologies by 10.0% during the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other 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.