SoFi Technologies (NASDAQ:SOFI) Trading 2.7% Higher - Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price traded up 2.7% on Friday . The company traded as high as $14.39 and last traded at $14.04. 15,915,030 shares were traded during mid-day trading, a decline of 67% from the average session volume of 48,777,378 shares. The stock had previously closed at $13.67.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays upped their price objective on SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. UBS Group lifted their price target 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. Truist Financial started coverage on shares of SoFi Technologies in a research note on Monday. They issued a "hold" rating and a $14.00 price objective for the company. JMP Securities started coverage on SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 target price on the stock. Finally, Citizens Jmp started coverage on SoFi Technologies in a research report on Friday, April 25th. They issued an "outperform" rating and a $17.00 target price for the company. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $14.36.

SoFi Technologies Stock Performance

The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 37.80, a price-to-earnings-growth ratio of 2.24 and a beta of 1.82. 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's fifty day moving average is $12.33 and its two-hundred day moving average is $14.02.

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

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This represents a 9.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 11,520 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total value of $154,137.60. Following the sale, the executive vice president now owns 203,509 shares in the company, valued at approximately $2,722,950.42. The trade was a 5.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,507 shares of company stock worth $1,283,528. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Elequin Capital LP grew its position in SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock valued at $42,000 after purchasing an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after acquiring an additional 685 shares during the last quarter. Game Plan Financial Advisors LLC raised its holdings in shares of SoFi Technologies by 13.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock worth $128,000 after acquiring an additional 1,000 shares in the last quarter. Bank of New Hampshire boosted its position in SoFi Technologies by 33.3% during the first quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock valued at $47,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC lifted its stake in shares of SoFi Technologies by 16.7% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company's stock valued at $81,000 after purchasing an additional 1,000 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.