SoFi Technologies (NASDAQ:SOFI) Trading Up 4.2% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 4.2% during trading on Wednesday . The company traded as high as $14.56 and last traded at $14.51. Approximately 13,003,046 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 44,275,984 shares. The stock had previously closed at $13.92.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Citigroup increased their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Mizuho raised their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Barclays lifted their price target on 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 increased their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

The company’s fifty day moving average is $15.59 and its two-hundred day moving average is $12.37. 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 firm has a market cap of $15.75 billion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 2.24 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $0.04 earnings per share. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the transaction, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,008,465 shares of company stock valued at $416,952,167. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in SoFi Technologies during the 3rd quarter valued at $27,000. Skandinaviska Enskilda Banken AB publ acquired a new position in SoFi Technologies in the fourth quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies in the third quarter valued at $28,000. Hollencrest Capital Management acquired a new stake in shares of SoFi Technologies during the 4th quarter valued at $31,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of SoFi Technologies during the 4th quarter worth $32,000. 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.