SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.3% - Time to Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded up 2.3% during mid-day trading on Friday . The company traded as high as $18.64 and last traded at $18.54. 44,667,703 shares changed hands during trading, a decline of 14% from the average session volume of 52,225,539 shares. The stock had previously closed at $18.12.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Truist Financial assumed coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective for the company. Barclays upped their price objective on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Citizens Jmp started 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. Finally, Stephens started coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and an average price target of $14.73.

SoFi Technologies Stock Performance

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 price is $14.40 and its two-hundred day moving average price is $14.03. The company has a market capitalization of $20.49 billion, a price-to-earnings ratio of 45.21, a PEG ratio of 3.15 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $763.81 million during the quarter, compared to analysts' expectations of $739.93 million. During the same period in the prior year, the company posted $0.02 earnings per share. SoFi Technologies's revenue for the quarter was up 32.7% compared to the same quarter last year. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the transaction, the chief technology officer directly owned 724,321 shares of the company's stock, valued at $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,267 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.22, for a total transaction of $156,263.74. Following the transaction, the executive vice president directly owned 255,467 shares in the company, valued at approximately $3,888,207.74. This represents a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 274,095 shares of company stock worth $3,939,168 over the last three months. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC boosted its stake in SoFi Technologies by 1.2% during the first quarter. Voya Investment Management LLC now owns 184,665 shares of the company's stock worth $2,148,000 after acquiring an additional 2,186 shares in the last quarter. Strs Ohio bought a new position in SoFi Technologies during the first quarter worth $984,000. Intech Investment Management LLC boosted its stake in SoFi Technologies by 12.5% during the first quarter. Intech Investment Management LLC now owns 180,798 shares of the company's stock worth $2,103,000 after acquiring an additional 20,056 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of SoFi Technologies by 4.3% in the first quarter. Focus Partners Wealth now owns 314,342 shares of the company's stock valued at $3,656,000 after buying an additional 12,831 shares in the last quarter. Finally, Integrity Alliance LLC. bought a new position in shares of SoFi Technologies in the first quarter valued at $187,000. 38.43% of the stock is owned by institutional investors.

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.