SoFi Technologies (NASDAQ:SOFI) Stock Price Up 6.4% - Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price shot up 6.4% during mid-day trading on Thursday . The stock traded as high as $15.42 and last traded at $15.36. 84,234,708 shares traded hands during trading, an increase of 68% from the average session volume of 50,051,303 shares. The stock had previously closed at $14.43.

Analyst Ratings Changes

Several equities research analysts have recently commented 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 price target for the company. Truist Financial started coverage on shares of SoFi Technologies in a research note on Monday, June 2nd. They issued a "hold" rating and a $14.00 price objective for the company. Needham & Company LLC restated a "buy" rating and set a $20.00 target price on shares of SoFi Technologies in a report on Wednesday, April 30th. Barclays lifted their price target on SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Finally, UBS Group upped their price objective on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, SoFi Technologies has a consensus rating of "Hold" and an average target price of $14.73.

SoFi Technologies Trading Up 6.4%

The company's fifty day simple moving average is $13.04 and its 200-day simple moving average is $13.96. The firm has a market capitalization of $16.98 billion, a PE ratio of 37.46, a P/E/G ratio of 2.51 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.

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 17.21% and a return on equity of 3.34%. The firm had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The company's revenue for the quarter was up 32.7% on a year-over-year basis. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction that occurred on 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 transaction, the director now owns 289,258 shares in the company, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 11,520 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total value of $154,137.60. Following the transaction, the executive vice president now directly owns 203,509 shares in the company, valued at $2,722,950.42. This trade represents a 5.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 196,981 shares of company stock valued at $2,743,434 over the last ninety days. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. increased its position in shares of SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after purchasing an additional 2,200 shares during the last quarter. Headlands Technologies LLC purchased a new position in SoFi Technologies during the first quarter worth about $28,000. SVB Wealth LLC acquired a new position in shares of SoFi Technologies in the 1st quarter worth approximately $28,000. Finally, Hollencrest Capital Management purchased a new stake in SoFi Technologies in the fourth quarter valued at approximately $31,000. 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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