SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1% - Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded up 1% during mid-day trading on Monday . The stock traded as high as $13.60 and last traded at $13.44. 19,480,489 shares changed hands during trading, a decline of 60% from the average session volume of 48,416,281 shares. The stock had previously closed at $13.30.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of research reports. Citizens Jmp started coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price target for the company. JMP Securities assumed coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective on the stock. Barclays raised their target price on SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Finally, UBS Group increased their price target on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $14.36.

SoFi Technologies Price Performance

The stock has a market cap of $15.10 billion, a P/E ratio of 36.92, a P/E/G ratio of 2.24 and a beta of 1.84. The business has a 50 day simple moving average of $12.26 and a 200-day simple moving average of $14.02. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results 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. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The company had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. During the same period in the previous year, the firm earned $0.02 EPS. The firm's quarterly revenue was up 32.7% on a year-over-year basis. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction 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. This represents a 9.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.71, for a total transaction of $119,748.51. Following the sale, the executive vice president now directly owns 215,029 shares in the company, valued at approximately $2,302,960.59. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,507 shares of company stock worth $1,283,528 in the last quarter. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SoFi Technologies during the fourth quarter worth $27,000. Hazlett Burt & Watson Inc. grew its position in shares of SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after purchasing an additional 2,200 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of SoFi Technologies during the 1st quarter valued at $28,000. SVB Wealth LLC purchased a new stake in SoFi Technologies during the 1st quarter worth about $28,000. Finally, Hollencrest Capital Management bought a new position in SoFi Technologies in the 4th quarter worth about $31,000. 38.43% of the stock is owned by institutional investors.

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.