SoFi Technologies (NASDAQ:SOFI) Trading Up 1.9% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) was up 1.9% during trading on Friday . The company traded as high as $13.80 and last traded at $13.83. Approximately 15,957,183 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 47,274,932 shares. The stock had previously closed at $13.57.

Analyst Ratings Changes

A number of research analysts have commented on SOFI shares. JMP Securities started coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They issued a “market outperform” rating and a $17.00 price objective on the stock. Citizens Jmp started coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They issued an “outperform” rating and a $17.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. Barclays lifted their price objective on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Finally, UBS Group lifted their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have issued 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 company presently has a consensus rating of “Hold” and a consensus price target of $14.38.

SoFi Technologies Stock Performance

The stock’s 50-day moving average price is $12.07 and its 200-day moving average price is $13.95. 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 $15.39 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 2.24 and a beta of 1.84.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results 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. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The company had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. During the same period last year, the firm earned $0.02 EPS. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity

In related news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the transaction, the executive vice president now owns 226,210 shares of the company’s stock, valued at $2,877,391.20. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 100,172 shares of company stock worth $1,271,115. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Berkshire Capital Holdings Inc. raised its position in shares of SoFi Technologies by 6,208,000.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company’s stock worth $9,560,000 after purchasing an additional 620,800 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of SoFi Technologies during the 4th quarter worth approximately $3,703,000. Hanseatic Management Services Inc. purchased a new stake in SoFi Technologies in the 4th quarter worth approximately $1,116,000. Kercheville Advisors LLC purchased a new stake in SoFi Technologies in the 4th quarter worth approximately $1,594,000. Finally, Baltimore Washington Financial Advisors Inc. grew its stake in SoFi Technologies by 12.9% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 592,930 shares of the company’s stock worth $9,131,000 after acquiring an additional 67,779 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.