SoFi Technologies (NASDAQ:SOFI) Trading 2.6% Higher – Still a Buy?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) rose 2.6% on Tuesday . The company traded as high as $15.84 and last traded at $15.77. Approximately 17,612,315 shares traded hands during trading, a decline of 65% from the average daily volume of 50,266,569 shares. The stock had previously closed at $15.36.

Analyst Ratings Changes

SOFI has been the topic of a number of recent analyst reports. Stephens began coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They issued an “overweight” rating and a $20.00 price objective on the stock. JMP Securities started coverage on shares of 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. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Barclays raised their price target on SoFi Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. Finally, UBS Group boosted their target price on SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.73.

SoFi Technologies Trading Up 2.9%

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. The business’s fifty day simple moving average is $13.31 and its 200 day simple moving average is $13.92. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 38.56, a P/E/G ratio of 2.64 and a beta of 1.82.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The company’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 EPS. On average, research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, Director Magdalena Yesil sold 87,140 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the sale, the director now owns 289,258 shares of the company’s stock, valued at $4,162,422.62. This represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 11,520 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total transaction of $154,137.60. Following the transaction, the executive vice president now directly 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. Insiders sold 196,981 shares of company stock valued at $2,743,434 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $27,000. Hazlett Burt & Watson Inc. increased its holdings in shares of SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock valued at $27,000 after buying an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of SoFi Technologies during the 1st quarter valued at $28,000. SVB Wealth LLC bought a new stake in shares of SoFi Technologies during the 1st quarter worth $28,000. Finally, Hollencrest Capital Management acquired a new position in shares of SoFi Technologies in the 4th quarter worth $31,000. 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.