SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.6% - Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) rose 2.6% during mid-day trading on Tuesday . The stock traded as high as $15.84 and last traded at $15.77. Approximately 17,612,315 shares traded hands during trading, a decline of 65% from the average daily volume of 50,266,569 shares. The stock had previously closed at $15.36.

Wall Street Analyst Weigh In

SOFI has been the subject of several analyst reports. JMP Securities began coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price target for the company. Barclays increased their target price on SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. UBS Group lifted their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Stephens assumed coverage on shares of SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 target price on the stock. Finally, Citizens Jmp assumed coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They issued an "outperform" rating and a $17.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and an average price target of $14.73.

SoFi Technologies Trading Up 3.2%

The stock has a market cap of $17.52 billion, a P/E ratio of 38.66, a PEG ratio of 2.66 and a beta of 1.82. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The stock's fifty day moving average price is $13.41 and its 200 day moving average price is $13.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The company had revenue of $763.81 million for 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%. SoFi Technologies's revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,181 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.71, for a total transaction of $119,748.51. Following the transaction, the executive vice president now owns 215,029 shares in the company, valued at approximately $2,302,960.59. This represents a 4.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction dated 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 now owns 724,321 shares in the company, valued at $11,263,191.55. This represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,828 shares of company stock valued at $3,782,905 over the last 90 days. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors have recently made changes to their positions in SOFI. Brighton Jones LLC increased its holdings in SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock worth $11,077,000 after acquiring an additional 14,281 shares in the last quarter. CIBC Asset Management Inc grew its holdings in SoFi Technologies by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 29,997 shares of the company's stock valued at $462,000 after buying an additional 1,588 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in SoFi Technologies by 11.3% during the 4th quarter. Handelsbanken Fonder AB now owns 252,100 shares of the company's stock valued at $3,882,000 after buying an additional 25,500 shares in the last quarter. Prasad Wealth Partners LLC purchased a new stake in SoFi Technologies during the 4th quarter valued at approximately $182,000. Finally, Bank of New York Mellon Corp grew its holdings in SoFi Technologies by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,223,370 shares of the company's stock valued at $49,640,000 after buying an additional 8,218 shares in the last quarter. Institutional investors 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.