SoFi Technologies (NASDAQ:SOFI) Trading Up 1.8% After Analyst Upgrade

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 1.8% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $9.00 to $16.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. SoFi Technologies traded as high as $16.61 and last traded at $16.41. 31,524,910 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 47,514,559 shares. The stock had previously closed at $16.12.

Several other equities research analysts have also commented on SOFI. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Needham & Company LLC lifted their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Mizuho boosted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average price target of $10.36.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the sale, the executive vice president now directly owns 142,613 shares in the company, valued at approximately $2,076,445.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,287 shares of company stock valued at $863,250. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. World Investment Advisors LLC increased its holdings in shares of SoFi Technologies by 6.5% in the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock worth $171,000 after buying an additional 1,336 shares during the last quarter. Virtu Financial LLC bought a new position in SoFi Technologies in the third quarter valued at $1,649,000. Coldstream Capital Management Inc. purchased a new stake in SoFi Technologies during the third quarter valued at about $93,000. Geode Capital Management LLC raised its position in SoFi Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock valued at $138,523,000 after purchasing an additional 358,806 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in SoFi Technologies by 5.4% during the third quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock worth $359,000 after purchasing an additional 2,332 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Price Performance

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 $17.23 billion, a PE ratio of 158.82, a PEG ratio of 2.65 and a beta of 1.77. The business has a fifty day moving average price of $11.39 and a 200-day moving average price of $8.59.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. 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 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. SoFi Technologies’s revenue for the quarter was up 29.8% on a year-over-year basis. Research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

SoFi Technologies Company Profile

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.