SoFi Technologies (NASDAQ:SOFI) Trading Up 2.5% - Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares were up 2.5% during mid-day trading on Wednesday . The company traded as high as $16.03 and last traded at $16.02. Approximately 15,731,459 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 47,582,809 shares. The stock had previously closed at $15.63.

Analyst Upgrades and Downgrades

Several research firms have commented on SOFI. Barclays raised their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Mizuho boosted their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, December 2nd. Needham & Company LLC boosted their price objective on SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Citigroup lowered SoFi Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, SoFi Technologies has an average rating of "Hold" and an average price target of $11.04.

SoFi Technologies Stock Up 2.5 %

The business's 50 day simple moving average is $13.90 and its 200 day simple moving average is $9.64. The company has a market capitalization of $17.38 billion, a PE ratio of 160.22, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company's quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. As a group, analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares of the company's stock, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eric Schuppenhauer acquired 30,600 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the transaction, the executive vice president now owns 46,105 shares of the company's stock, valued at approximately $753,355.70. The trade was a 197.36 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 26,009,264 shares of company stock worth $416,889,795. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its position in SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company's stock worth $141,974,000 after acquiring an additional 310,532 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of SoFi Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company's stock valued at $138,523,000 after purchasing an additional 358,806 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock worth $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Marshall Wace LLP increased its position in SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company's stock worth $42,026,000 after buying an additional 3,593,464 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock valued at $48,306,000 after buying an additional 87,097 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

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.