SoFi Technologies (NASDAQ:SOFI) Sets New 12-Month High - Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.46 and last traded at $17.04, with a volume of 10978991 shares traded. The stock had previously closed at $16.50.

Analyst Ratings Changes

Several equities analysts have weighed in on SOFI shares. 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 report on Tuesday, October 29th. JPMorgan Chase & Co. raised their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, December 2nd. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Morgan Stanley increased their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a report on Thursday, December 19th. Finally, Barclays boosted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and an average target price of $11.71.

SoFi Technologies Stock Performance

The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $19.42 billion, a price-to-earnings ratio of 179.02, a price-to-earnings-growth ratio of 1.12 and a beta of 1.78. The stock's fifty day simple moving average is $15.36 and its 200-day simple moving average is $10.76.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) earnings per share. Analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 64,991 shares of the business'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 completion of the sale, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the sale, the executive vice president now owns 142,613 shares in the company, valued at $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,999,956 shares of company stock valued at $416,793,365 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of the stock. Hanseatic Management Services Inc. acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $1,116,000. Charles Schwab Investment Management Inc. increased its stake in SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock valued at $48,306,000 after purchasing an additional 87,097 shares during the period. Zacks Investment Management purchased a new stake in shares of SoFi Technologies in the third quarter valued at about $3,766,000. Citizens Financial Group Inc. RI boosted its stake in shares of SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company's stock worth $1,892,000 after buying an additional 70,603 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock valued at $30,971,000 after acquiring an additional 2,688,847 shares during the last quarter. Institutional investors and hedge funds 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.