SoFi Technologies (NASDAQ:SOFI) Shares Up 2.2% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares rose 2.2% on Wednesday . The company traded as high as $12.20 and last traded at $12.18. Approximately 9,899,490 shares traded hands during trading, a decline of 78% from the average daily volume of 44,962,154 shares. The stock had previously closed at $11.91.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup boosted their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. UBS Group lifted their target price on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Morgan Stanley increased their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price Performance

The business’s fifty day moving average price is $14.20 and its 200-day moving average price is $13.31. The company has a market capitalization of $13.63 billion, a P/E ratio of 33.59, a P/E/G ratio of 2.24 and a beta of 1.79. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the company earned $0.04 earnings per share. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 11,181 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the sale, the executive vice president now directly owns 226,210 shares in the company, valued at $2,877,391.20. This represents a 4.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,905 shares of company stock valued at $1,308,075. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SOFI. Elequin Capital LP raised its stake in SoFi Technologies by 30.1% in the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock worth $42,000 after buying an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of SoFi Technologies by 1.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after purchasing an additional 685 shares during the period. Captrust Financial Advisors boosted its position in shares of SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after purchasing an additional 809 shares in the last quarter. Procyon Advisors LLC grew its stake in SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock worth $208,000 after purchasing an additional 1,000 shares during the period. Finally, Game Plan Financial Advisors LLC raised its holdings in SoFi Technologies by 13.9% in the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock worth $128,000 after purchasing an additional 1,000 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.