SoFi Technologies (NASDAQ:SOFI) Shares Up 3.4% - Still a Buy?

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

Analysts Set New Price Targets

A number of research firms have issued reports on SOFI. Truist Financial started coverage on SoFi Technologies in a research report on Monday, June 2nd. They issued a "hold" rating and a $14.00 price target on the stock. JMP Securities assumed coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a report on Wednesday, April 30th. Stephens initiated coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective on the stock. Finally, Citizens Jmp began coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $14.73.

SoFi Technologies Price Performance

The company has a 50-day moving average of $12.96 and a 200-day moving average of $13.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80. The stock has a market cap of $16.94 billion, a price-to-earnings ratio of 37.48, a PEG ratio of 2.59 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 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million during the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The business's revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the business earned $0.02 EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 11,520 shares of SoFi Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total transaction of $154,137.60. Following the completion of the transaction, the executive vice president now owns 203,509 shares of the company's stock, valued at $2,722,950.42. The trade was a 5.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the sale, the director now directly owns 289,258 shares in the company, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,787 shares of company stock valued at $3,753,076. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of SoFi Technologies during the 4th quarter worth approximately $27,000. Hazlett Burt & Watson Inc. raised its holdings 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 worth $27,000 after acquiring an additional 2,200 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of SoFi Technologies in the first quarter valued at $28,000. SVB Wealth LLC acquired a new stake in shares of SoFi Technologies during the first quarter valued at $28,000. Finally, Hollencrest Capital Management purchased a new stake in SoFi Technologies during the 4th quarter worth about $31,000. Hedge funds and other 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.

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