SoFi Technologies (NASDAQ:SOFI) Shares Up 4.5% - Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 4.5% during trading on Friday . The company traded as high as $13.03 and last traded at $12.86. Approximately 19,411,765 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 46,408,581 shares. The stock had previously closed at $12.31.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SOFI shares. The Goldman Sachs Group upped their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Needham & Company LLC increased their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. JMP Securities assumed coverage on shares of SoFi Technologies in a report on Friday. They set a "market outperform" rating and a $17.00 price target on the stock. Finally, UBS Group boosted their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $13.10.

SoFi Technologies Stock Up 0.5 %

The company's 50-day moving average price is $12.14 and its 200 day moving average price is $13.71. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a market cap of $14.55 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The business had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. During the same period last year, the firm earned $0.02 earnings per share. The company's quarterly revenue was up 32.7% on a year-over-year basis. As a group, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now directly owns 169,626 shares in the company, valued at $2,617,329.18. This represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,172 shares of company stock worth $1,271,115 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently bought and sold shares of the business. Berkshire Capital Holdings Inc. boosted its stake in shares of SoFi Technologies by 6,208,000.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock worth $9,560,000 after acquiring an additional 620,800 shares during the period. SBI Securities Co. Ltd. bought a new stake in SoFi Technologies in the 4th quarter valued at $3,703,000. Hanseatic Management Services Inc. purchased a new stake in SoFi Technologies in the 4th quarter worth $1,116,000. Kercheville Advisors LLC bought a new position in shares of SoFi Technologies during the 4th quarter valued at about $1,594,000. Finally, Baltimore Washington Financial Advisors Inc. increased its holdings in shares of SoFi Technologies by 12.9% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 592,930 shares of the company's stock worth $9,131,000 after purchasing an additional 67,779 shares during the last quarter. 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.