SoFi Technologies (NASDAQ:SOFI) Trading Up 2% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price shot up 2% on Tuesday . The company traded as high as $27.20 and last traded at $27.14. 45,268,661 shares changed hands during trading, a decline of 25% from the average session volume of 60,152,387 shares. The stock had previously closed at $26.60.

Analyst Upgrades and Downgrades

SOFI has been the subject of several analyst reports. UBS Group boosted their target price on SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Mizuho set a $38.00 price objective on SoFi Technologies in a research note on Thursday, October 30th. JPMorgan Chase & Co. boosted their price objective on SoFi Technologies from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Morgan Stanley raised their target price on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Finally, Barclays raised their price objective on shares of SoFi Technologies from $23.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.50.

SoFi Technologies Price Performance

The firm has a market capitalization of $32.73 billion, a PE ratio of 50.26, a P/E/G ratio of 1.72 and a beta of 1.92. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $27.68 and a two-hundred day moving average price of $25.75.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $949.63 million during the quarter, compared to analysts’ expectations of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,468 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $27.14, for a total transaction of $256,961.52. Following the completion of the sale, the executive vice president directly owned 312,948 shares of the company’s stock, valued at $8,493,408.72. This represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arun Pinto sold 46,132 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $24.76, for a total value of $1,142,228.32. Following the sale, the insider directly owned 138,396 shares of the company’s stock, valued at $3,426,684.96. The trade was a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 167,813 shares of company stock valued at $4,403,334. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in SoFi Technologies by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock valued at $2,829,640,000 after buying an additional 6,814,727 shares during the last quarter. State Street Corp raised its holdings in SoFi Technologies by 30.7% during the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock worth $642,019,000 after purchasing an additional 5,708,053 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in SoFi Technologies by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,792,807 shares of the company’s stock valued at $258,821,000 after purchasing an additional 67,504 shares in the last quarter. Norges Bank acquired a new stake in shares of SoFi Technologies in the 2nd quarter valued at approximately $164,068,000. Finally, Marshall Wace LLP grew its holdings in SoFi Technologies by 88.2% during the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock worth $145,628,000 after acquiring an additional 3,748,817 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.