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

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 1.9% during trading on Friday . The stock 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.

Wall Street Analysts Forecast Growth

Several analysts have commented on SOFI shares. Citizens Jmp assumed coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They issued an “outperform” rating and a $17.00 target price for the company. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. JMP Securities assumed coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set a “market outperform” rating and a $17.00 price objective for the company. Barclays boosted 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 boosted 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 equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.38.

SoFi Technologies Trading Up 2.6%

The business’s 50-day moving average is $12.07 and its two-hundred day moving average is $13.95. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $15.39 billion, a PE ratio of 37.62, a PEG ratio of 2.24 and a beta of 1.84.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping 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 firm had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. During the same period in the prior year, the company earned $0.02 EPS. The firm’s revenue was up 32.7% on a year-over-year basis. On average, analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On SoFi Technologies

Institutional investors have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ acquired a new position in SoFi Technologies in the 4th quarter worth $27,000. Hazlett Burt & Watson Inc. lifted its holdings in SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after buying an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new position in SoFi Technologies in the 1st quarter worth $28,000. SVB Wealth LLC acquired a new stake in shares of SoFi Technologies in the 1st quarter valued at about $28,000. Finally, Hollencrest Capital Management acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at about $31,000. 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.