SoFi Technologies (NASDAQ:SOFI) Sets New 52-Week High - Should You Buy?

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays boosted 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. Citizens Jmp assumed coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They issued an "outperform" rating and a $17.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. JMP Securities started coverage on SoFi Technologies in a research report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price objective on the stock. Finally, Stephens started coverage on SoFi Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price target on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $14.73.

SoFi Technologies Price Performance

The firm has a market capitalization of $20.90 billion, a PE ratio of 46.65, a PEG ratio of 3.15 and a beta of 1.91. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The firm's fifty day simple moving average is $14.40 and its 200-day simple moving average is $14.02.

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 for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The firm's quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 10,267 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.22, for a total transaction of $156,263.74. Following the sale, the executive vice president directly owned 255,467 shares of the company's stock, valued at approximately $3,888,207.74. This represents a 3.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the sale, the director owned 289,258 shares in the company, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 274,095 shares of company stock worth $3,939,168. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. Brighton Jones LLC raised its holdings in shares of SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock valued at $11,077,000 after buying an additional 14,281 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of SoFi Technologies during the fourth quarter valued at $513,000. Charles Schwab Investment Management Inc. raised its stake in shares of SoFi Technologies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock valued at $97,230,000 after purchasing an additional 167,780 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in SoFi Technologies by 104.4% in the fourth quarter. Victory Capital Management Inc. now owns 262,979 shares of the company's stock worth $4,050,000 after purchasing an additional 134,318 shares during the period. Finally, M&T Bank Corp grew its position in SoFi Technologies by 16.1% in the 4th quarter. M&T Bank Corp now owns 52,912 shares of the company's stock valued at $815,000 after buying an additional 7,330 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

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.

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