SoFi Technologies (NASDAQ:SOFI) Shares Gap Up - Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $12.88, but opened at $13.24. SoFi Technologies shares last traded at $13.20, with a volume of 12,613,253 shares traded.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of research analyst reports. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Citigroup lifted their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Barclays boosted their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Wednesday. Finally, The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and an average price target of $14.38.

SoFi Technologies Stock Performance

The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 2.24 and a beta of 1.86. 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 firm has a 50 day moving average price of $12.01 and a 200-day moving average price of $13.71.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced 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 3.82% and a net margin of 18.64%. The business had revenue of $763.81 million during the quarter, compared to analysts' expectations of $739.93 million. During the same quarter last year, the business posted $0.02 EPS. The business's quarterly revenue was up 32.7% compared to the same quarter last year. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $10.71, for a total transaction of $119,748.51. Following the completion of the transaction, the executive vice president now owns 215,029 shares in the company, valued at approximately $2,302,960.59. The trade was a 4.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,172 shares of company stock worth $1,271,115 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP acquired a new stake in shares of SoFi Technologies during the fourth quarter worth about $299,980,000. Vanguard Group Inc. grew its stake in SoFi Technologies by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after buying an additional 8,898,879 shares during the last quarter. Norges Bank acquired a new position in SoFi Technologies during the fourth quarter worth approximately $103,678,000. Voloridge Investment Management LLC purchased a new stake in SoFi Technologies in the fourth quarter valued at approximately $75,139,000. Finally, Amundi boosted its holdings in shares of SoFi Technologies by 58,176.3% in the fourth quarter. Amundi now owns 2,705,185 shares of the company's stock valued at $39,360,000 after acquiring an additional 2,700,543 shares during the period. 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.