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

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

Analyst Ratings Changes

A number of brokerages recently weighed in on SOFI. UBS Group boosted their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Price Performance

The firm has a market cap of $13.58 billion, a P/E ratio of 33.61, a P/E/G ratio of 2.24 and a beta of 1.79. 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 business’s 50 day moving average is $14.70 and its two-hundred day moving average is $12.94.

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 return on equity of 3.82% and a net margin of 18.64%. During the same period last year, the firm posted $0.04 earnings per share. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling 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 value of $138,969.26. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 27,013 shares of company stock valued at $437,402. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies during the third quarter valued at about $28,000. Hollencrest Capital Management bought a new stake in shares of SoFi Technologies during the fourth quarter worth about $31,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of SoFi Technologies in the 4th quarter worth about $32,000. Finally, FNY Investment Advisers LLC lifted its position in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.