SoFi Technologies (NASDAQ:SOFI) Sets New 1-Year High - Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $19.29 and last traded at $19.10, with a volume of 28139130 shares trading hands. The stock had previously closed at $18.57.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SOFI shares. Truist Financial started coverage on SoFi Technologies in a report on Monday, June 2nd. They issued a "hold" rating and a $14.00 target price on the stock. JMP Securities began coverage on SoFi Technologies in a report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 target price on the stock. Stephens began coverage on SoFi Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price objective on the stock. Barclays upped their price objective on SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and an average target price of $14.73.

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. The company has a 50-day moving average price of $14.52 and a 200-day moving average price of $14.05. The firm has a market capitalization of $21.27 billion, a PE ratio of 46.93, a P/E/G ratio of 3.15 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The business had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. During the same period in the prior year, the business earned $0.02 earnings per share. The business's revenue was up 32.7% on a year-over-year basis. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In related news, EVP Kelli Keough sold 10,267 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.22, for a total transaction of $156,263.74. Following the transaction, the executive vice president directly owned 255,467 shares in the company, valued at approximately $3,888,207.74. This represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the transaction, the chief technology officer owned 724,321 shares in the company, valued at $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,095 shares of company stock worth $3,939,168 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Large investors have recently added to or reduced their stakes in the business. Berkshire Capital Holdings Inc. raised its holdings in shares of SoFi Technologies by 6,208,000.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock worth $9,560,000 after purchasing an additional 620,800 shares during the period. CMG Global Holdings LLC raised its holdings in shares of SoFi Technologies by 77.8% in the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock worth $1,728,000 after purchasing an additional 61,443 shares during the period. Midwest Professional Planners LTD. purchased a new position in shares of SoFi Technologies in the 4th quarter worth about $836,000. Geode Capital Management LLC raised its holdings in shares of SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after purchasing an additional 315,899 shares during the period. Finally, Sowell Financial Services LLC purchased a new position in shares of SoFi Technologies in the 1st quarter worth about $259,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.