SoFi Technologies (NASDAQ:SOFI) Sets New 12-Month High – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price hit a new 52-week high during mid-day trading on Saturday . The stock traded as high as $16.61 and last traded at $16.41, with a volume of 31524910 shares changing hands. The stock had previously closed at $16.12.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Mizuho increased their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Needham & Company LLC increased their price objective on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.80.

SoFi Technologies Stock Up 1.8 %

The stock has a market capitalization of $17.81 billion, a price-to-earnings ratio of 164.12, a price-to-earnings-growth ratio of 2.73 and a beta of 1.60. 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 moving average price of $11.23 and a 200 day moving average price of $8.52.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The business’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,287 shares of company stock valued at $863,250. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. World Investment Advisors LLC lifted its stake in shares of SoFi Technologies by 6.5% during the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock valued at $171,000 after buying an additional 1,336 shares in the last quarter. Virtu Financial LLC bought a new stake in SoFi Technologies during the 3rd quarter valued at $1,649,000. Coldstream Capital Management Inc. purchased a new stake in shares of SoFi Technologies during the third quarter worth $93,000. Geode Capital Management LLC boosted its holdings in shares of SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after acquiring an additional 358,806 shares during the period. Finally, M&T Bank Corp grew its position in shares of SoFi Technologies by 5.4% in the third quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock valued at $359,000 after purchasing an additional 2,332 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other 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.