SoFi Technologies (NASDAQ:SOFI) Trading Up 1.1% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 1.1% on Tuesday . The company traded as high as $10.57 and last traded at $10.51. 11,622,266 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 45,720,230 shares. The stock had previously closed at $10.40.

Analysts Set New Price Targets

SOFI has been the topic of a number of analyst reports. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Barclays decreased their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods cut their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and a consensus price target of $9.25.

SoFi Technologies Stock Down 1.5 %

The firm has a market capitalization of $11.02 billion, a PE ratio of -33.61, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average of $8.15 and a two-hundred day moving average of $7.39.

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

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related 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 value of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the executive vice president now directly owns 114,407 shares in the company, valued at $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 three months, insiders sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors have recently modified their holdings of the stock. ORG Partners LLC acquired a new stake in SoFi Technologies during the first quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC grew its position in shares of SoFi Technologies by 55.3% during 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 last quarter. Waldron Private Wealth LLC bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $39,000. GAMMA Investing LLC raised 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 acquiring an additional 1,981 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in SoFi Technologies in the first quarter worth about $37,000. 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.