SoFi Technologies (NASDAQ:SOFI) Trading 5.9% Higher - Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 5.9% during mid-day trading on Wednesday . The company traded as high as $12.35 and last traded at $11.93. Approximately 19,451,388 shares changed hands during trading, a decline of 58% from the average daily volume of 46,258,970 shares. The stock had previously closed at $11.27.

Analysts Set New Price Targets

Several analysts recently commented on the company. Needham & Company LLC upped their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. JMP Securities assumed coverage on shares of SoFi Technologies in a research note on Friday. They set a "market outperform" rating and a $17.00 target price for the company. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, The Goldman Sachs Group boosted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $13.10.

SoFi Technologies Stock Performance

The stock has a market cap of $14.12 billion, a price-to-earnings ratio of 34.81, a P/E/G ratio of 2.24 and a beta of 1.86. The company's fifty day simple moving average is $12.20 and its two-hundred day simple moving average is $13.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period last year, the firm posted $0.04 EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction dated Monday, April 21st. The stock was 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 trade represents a 4.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,172 shares of company stock valued at $1,271,115 over the last 90 days. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares during the period. Two Sigma Advisers LP bought a new stake in shares of SoFi Technologies during the 4th quarter worth $299,980,000. Geode Capital Management LLC boosted its holdings in shares of SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after buying an additional 315,899 shares during the last quarter. Norges Bank bought a new position in SoFi Technologies during the fourth quarter valued at about $103,678,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in SoFi Technologies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock worth $97,230,000 after buying an additional 167,780 shares during the last quarter. Hedge funds and other 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.