SoFi Technologies (NASDAQ:SOFI) Shares Up 1.2% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price shot up 1.2% during mid-day trading on Thursday . The stock traded as high as $14.74 and last traded at $14.65. 10,725,490 shares were traded during mid-day trading, a decline of 76% from the average session volume of 44,406,629 shares. The stock had previously closed at $14.47.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Mizuho raised their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Needham & Company LLC upped their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Finally, Barclays increased their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock’s 50 day simple moving average is $15.58 and its two-hundred day simple moving average is $12.39. The company has a market capitalization of $15.27 billion, a P/E ratio of 38.03, a P/E/G ratio of 2.24 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last posted 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 net margin of 18.64% and a return on equity of 3.82%. During the same period in the previous year, the firm posted $0.04 earnings per share. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity

In other news, Director Bashir Ruzwana sold 52,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the transaction, the director now directly owns 25,937 shares in the company, valued at $415,510.74. This trade represents a 66.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $16.06, for a total value of $28,242,361.18. Following the completion of the sale, the director now owns 482,083 shares of the company’s stock, valued at $7,742,252.98. This represents a 78.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,008,465 shares of company stock valued at $416,952,167 over the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SoFi Technologies during the fourth quarter worth $27,000. Hollencrest Capital Management bought a new stake in shares of SoFi Technologies in the fourth quarter worth about $31,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of SoFi Technologies during the fourth quarter worth about $32,000. FNY Investment Advisers LLC raised its position in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after purchasing an additional 1,905 shares during the period. Finally, IAG Wealth Partners LLC bought a new position in shares of SoFi Technologies during the 4th quarter valued at about $38,000. 38.43% of the stock is owned by 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.