SoFi Technologies (NASDAQ:SOFI) Stock Price Up 8.4% - Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price traded up 8.4% during mid-day trading on Monday . The company traded as high as $18.92 and last traded at $18.62. 64,677,314 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 56,130,477 shares. The stock had previously closed at $17.18.

Analyst Ratings Changes

Several research analysts recently commented on SOFI shares. JMP Securities began coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 target price on the stock. Truist Financial assumed coverage on SoFi Technologies in a research note on Monday, June 2nd. They set a "hold" rating and a $14.00 target price for the company. UBS Group lifted their price target on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Stephens assumed coverage on SoFi Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective for the company. Finally, Citizens Jmp initiated coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.73.

SoFi Technologies Stock Up 6.0%

The company has a market capitalization of $20.13 billion, a price-to-earnings ratio of 44.42, a P/E/G ratio of 2.91 and a beta of 1.82. The business has a fifty day simple moving average of $13.91 and a two-hundred day simple moving average of $13.96. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The firm had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. During the same period in the prior year, the company posted $0.02 earnings per share. The business's revenue for the quarter was up 32.7% compared to the same quarter last year. Equities analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 66,847 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the transaction, the chief technology officer owned 724,321 shares of the company's stock, valued at approximately $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the sale, the director owned 289,258 shares in the company, valued at $4,162,422.62. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,095 shares of company stock valued at $3,939,168. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOFI. Voya Investment Management LLC raised its stake in shares of SoFi Technologies by 1.2% in the first quarter. Voya Investment Management LLC now owns 184,665 shares of the company's stock worth $2,148,000 after acquiring an additional 2,186 shares during the last quarter. Strs Ohio acquired a new stake in shares of SoFi Technologies in the first quarter valued at approximately $984,000. Intech Investment Management LLC raised its position in SoFi Technologies by 12.5% in the 1st quarter. Intech Investment Management LLC now owns 180,798 shares of the company's stock worth $2,103,000 after purchasing an additional 20,056 shares during the last quarter. Focus Partners Wealth raised its position in SoFi Technologies by 4.3% in the 1st quarter. Focus Partners Wealth now owns 314,342 shares of the company's stock worth $3,656,000 after purchasing an additional 12,831 shares during the last quarter. Finally, Integrity Alliance LLC. acquired a new position in SoFi Technologies during the 1st quarter worth $187,000. 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.