SoFi Technologies (NASDAQ:SOFI) Stock Price Up 3.4% - Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares were up 3.4% on Wednesday . The stock traded as high as $14.90 and last traded at $14.93. Approximately 17,727,784 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 49,708,683 shares. The stock had previously closed at $14.43.

Wall Street Analyst Weigh In

Several analysts recently commented on SOFI shares. Stephens initiated coverage on shares of SoFi Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $20.00 target price for the company. Truist Financial began coverage on SoFi Technologies in a report on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective for the company. JMP Securities initiated coverage on SoFi Technologies in a research note on Friday, April 25th. They set a "market outperform" rating and a $17.00 target price on the stock. UBS Group lifted 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. Finally, Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Three analysts have rated the stock with a sell rating, five have given 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, the company currently has an average rating of "Hold" and a consensus price target of $14.73.

SoFi Technologies Price Performance

The firm has a market cap of $16.80 billion, a P/E ratio of 37.07, a PEG ratio of 2.64 and a beta of 1.82. 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's 50-day moving average is $13.22 and its two-hundred day moving average is $13.94.

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. The company had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The firm's quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 EPS. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $10.71, for a total value of $119,748.51. Following the sale, the executive vice president now directly owns 215,029 shares of the company's stock, valued at $2,302,960.59. This trade represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 completion of the transaction, the director now directly owns 289,258 shares of the company's stock, valued at $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 quarter, insiders have sold 196,981 shares of company stock worth $2,743,434. 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 modified their holdings of SOFI. Berkshire Capital Holdings Inc. raised its holdings in 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 valued at $9,560,000 after buying an additional 620,800 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of SoFi Technologies during the fourth quarter valued at $3,703,000. Midwest Professional Planners LTD. acquired a new position in shares of SoFi Technologies during the fourth quarter worth $836,000. Oppenheimer & Co. Inc. lifted its holdings in shares of SoFi Technologies by 47.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 365,439 shares of the company's stock worth $5,628,000 after purchasing an additional 118,288 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of SoFi Technologies by 1.8% in the fourth 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 last quarter. Institutional investors 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.