SoFi Technologies (NASDAQ:SOFI) Trading Up 1.1% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 1.1% during trading on Wednesday . The stock traded as high as $8.61 and last traded at $8.50. Approximately 11,006,987 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 45,232,973 shares. The stock had previously closed at $8.41.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SOFI. Barclays reduced their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods lowered their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.08.

SoFi Technologies Stock Up 1.8 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The business’s 50-day moving average is $7.46 and its two-hundred day moving average is $7.20. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of -27.42, a P/E/G ratio of 1.60 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. During the same period in the previous year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now owns 114,407 shares in the company, valued at approximately $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,328 shares of company stock worth $808,246. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ORG Partners LLC bought a new position in SoFi Technologies during the first quarter worth about $27,000. Tortoise Investment Management LLC bought a new position in shares of SoFi Technologies in the fourth quarter worth $39,000. Allspring Global Investments Holdings LLC increased its holdings in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the period. SOA Wealth Advisors LLC. increased its stake in SoFi Technologies by 61.2% in the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after acquiring an additional 1,713 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the last quarter. 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.