SoFi Technologies (NASDAQ:SOFI) Shares Up 3.8% - Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price rose 3.8% on Tuesday . The stock traded as high as $20.89 and last traded at $19.96. Approximately 52,899,486 shares traded hands during trading, an increase of 1% from the average daily volume of 52,503,515 shares. The stock had previously closed at $19.24.

Wall Street Analyst Weigh In

SOFI has been the topic of several recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. Stephens initiated coverage on shares of SoFi Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $20.00 price objective on the stock. JMP Securities initiated coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective on the stock. Citizens Jmp initiated coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective on the stock. Finally, Truist Financial initiated coverage on shares of SoFi Technologies in a research note on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus target price of $15.13.

SoFi Technologies Stock Up 3.7%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80. The stock has a market cap of $22.05 billion, a P/E ratio of 48.66, a P/E/G ratio of 3.26 and a beta of 1.91. The stock's fifty day simple moving average is $14.66 and its 200-day simple moving average is $14.09.

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 (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 net margin of 17.21% and a return on equity of 3.34%. The business's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 EPS. As a group, research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief technology officer owned 724,321 shares of the company's stock, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 10,267 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president directly owned 255,467 shares of the company's stock, valued at approximately $3,888,207.74. This trade represents a 3.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,095 shares of company stock valued at $3,939,168 in the last quarter. Company insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in SOFI. Vanguard Group Inc. lifted its stake in SoFi Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after purchasing an additional 1,130,250 shares during the last quarter. Two Sigma Advisers LP bought a new position in SoFi Technologies in the 4th quarter valued at approximately $299,980,000. Geode Capital Management LLC lifted its stake in SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after purchasing an additional 315,899 shares during the last quarter. Norges Bank bought a new position in SoFi Technologies in the 4th quarter valued at approximately $103,678,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in SoFi Technologies by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,472,726 shares of the company's stock valued at $75,278,000 after purchasing an additional 159,109 shares during the last quarter. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Company Profile

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.