SoFi Technologies (NASDAQ:SOFI) Shares Up 2.8% - Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price was up 2.8% during trading on Friday . The stock traded as high as $17.52 and last traded at $17.25. Approximately 30,554,324 shares were traded during trading, a decline of 40% from the average daily volume of 50,872,318 shares. The stock had previously closed at $16.77.

Wall Street Analyst Weigh In

SOFI has been the topic of several analyst reports. Needham & Company LLC restated a "buy" rating and issued a $20.00 price objective on shares of SoFi Technologies in a report on Wednesday, April 30th. JMP Securities started coverage on SoFi Technologies in a research note on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price target on the stock. Stephens started coverage on SoFi Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $20.00 price objective for the company. Truist Financial assumed coverage on SoFi Technologies in a report on Monday, June 2nd. They issued a "hold" rating and a $14.00 price objective for the company. Finally, Barclays increased 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. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and a consensus price target of $14.73.

SoFi Technologies Stock Up 4.1%

The firm's 50 day simple moving average is $13.64 and its 200-day simple moving average is $13.96. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $19.30 billion, a price-to-earnings ratio of 42.55, a price-to-earnings-growth ratio of 2.72 and a beta of 1.82.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the business earned $0.02 earnings per share. SoFi Technologies's quarterly revenue was up 32.7% on a year-over-year basis. Equities analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction on 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 sale, the chief technology officer now owns 724,321 shares in the company, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 10,267 shares of the company's 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 completion of the transaction, the executive vice president now owns 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 disclosure for this sale can be found here. Insiders sold a total of 274,095 shares of company stock valued at $3,939,168 in the last quarter. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SOFI. Two Sigma Advisers LP bought a new stake in shares of SoFi Technologies during the fourth quarter worth approximately $299,980,000. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 8,898,879 shares during the last quarter. Norges Bank bought a new stake in SoFi Technologies in the 4th quarter valued at $103,678,000. Voloridge Investment Management LLC acquired a new position in SoFi Technologies in the 4th quarter valued at $75,139,000. Finally, Nuveen LLC bought a new position in SoFi Technologies during the 1st quarter worth $47,616,000. 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.

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