SoFi Technologies (NASDAQ:SOFI) Stock Price Up 3.9% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price shot up 3.9% on Wednesday . The company traded as high as $12.41 and last traded at $12.42. 8,722,247 shares were traded during mid-day trading, a decline of 80% from the average session volume of 44,455,528 shares. The stock had previously closed at $11.95.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several recent research reports. Mizuho boosted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group raised their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. 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. Finally, Bank of America reaffirmed an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Up 4.6 %

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 stock has a 50-day simple moving average of $14.77 and a 200-day simple moving average of $12.94. The firm has a market capitalization of $13.70 billion, a PE ratio of 33.77, a P/E/G ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data 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 last year, the company posted $0.04 earnings per share. Analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the transaction, the executive vice president now directly owns 187,725 shares in the company, valued at approximately $2,926,632.75. This trade represents a 4.53 % 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, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction that occurred 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 directly owns 586,494 shares in the company, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,004 shares of company stock worth $1,459,060. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at about $27,000. Brooklyn Investment Group purchased a new stake in SoFi Technologies in the third quarter valued at approximately $28,000. Hollencrest Capital Management purchased a new stake in SoFi Technologies in the fourth quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC bought a new stake in SoFi Technologies during the fourth quarter valued at approximately $32,000. Finally, FNY Investment Advisers LLC grew its stake in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 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.