SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.7% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) was up 2.7% on Monday . The company traded as high as $15.40 and last traded at $15.31. Approximately 10,390,051 shares changed hands during trading, a decline of 76% from the average daily volume of 43,456,211 shares. The stock had previously closed at $14.91.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Citigroup increased their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. UBS Group increased their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, Needham & Company LLC upped their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a market cap of $16.03 billion, a P/E ratio of 39.92, a PEG ratio of 2.04 and a beta of 1.77. The stock has a fifty day moving average price of $15.73 and a two-hundred day moving average price of $11.77.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the business earned $0.04 earnings per share. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now owns 187,725 shares in the company, valued at $2,926,632.75. This represents a 4.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Insiders sold a total of 26,008,870 shares of company stock valued at $416,950,073 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC raised its holdings in SoFi Technologies by 45.1% in the 3rd quarter. Park Avenue Securities LLC now owns 14,782 shares of the company’s stock worth $116,000 after acquiring an additional 4,592 shares during the period. CWM LLC grew its position in shares of SoFi Technologies by 93.0% in the third quarter. CWM LLC now owns 98,956 shares of the company’s stock valued at $778,000 after purchasing an additional 47,672 shares during the last quarter. NBC Securities Inc. increased its stake in shares of SoFi Technologies by 12.7% in the third quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock worth $75,000 after purchasing an additional 1,081 shares during the period. Capital Advisors Wealth Management LLC lifted its position in shares of SoFi Technologies by 5.0% during the 3rd quarter. Capital Advisors Wealth Management LLC now owns 108,179 shares of the company’s stock worth $850,000 after purchasing an additional 5,180 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in SoFi Technologies by 5.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 199,575 shares of the company’s stock valued at $1,569,000 after purchasing an additional 10,338 shares during the period. 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.