SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.6% - Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shot up 0.6% during trading on Monday . The company traded as high as $13.38 and last traded at $12.96. 26,686,883 shares changed hands during trading, a decline of 42% from the average session volume of 46,363,590 shares. The stock had previously closed at $12.88.

Wall Street Analyst Weigh In

SOFI has been the subject of several research reports. Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday. Citizens Jmp began coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price target on the stock. Citigroup increased their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Finally, William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $14.38.

SoFi Technologies Trading Up 1.5 %

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 company has a market capitalization of $13.93 billion, a P/E ratio of 34.32, a PEG ratio of 2.24 and a beta of 1.86. The stock has a fifty day moving average of $11.99 and a 200 day moving average of $13.76.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The company's quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the transaction, the executive vice president now owns 226,210 shares in the company, valued at $2,877,391.20. The trade was a 4.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,172 shares of company stock valued at $1,271,115 in the last ninety days. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently modified their holdings of the stock. World Investment Advisors LLC increased its stake in SoFi Technologies by 6.5% during the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company's stock valued at $171,000 after purchasing an additional 1,336 shares in the last quarter. GAMMA Investing LLC lifted its position in SoFi Technologies by 40.3% during the 4th quarter. GAMMA Investing LLC now owns 5,925 shares of the company's stock worth $91,000 after acquiring an additional 1,703 shares during the period. Everence Capital Management Inc. acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $498,000. Nordea Investment Management AB lifted its holdings in shares of SoFi Technologies by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 898,467 shares of the company's stock worth $14,083,000 after purchasing an additional 10,506 shares during the period. Finally, Brookstone Capital Management lifted its stake in SoFi Technologies by 3.7% during the 4th quarter. Brookstone Capital Management now owns 63,137 shares of the company's stock valued at $972,000 after acquiring an additional 2,268 shares during the period. 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.