SoFi Technologies (NASDAQ:SOFI) Trading Up 3.7% Following Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFIGet Free Report) shares rose 3.7% during mid-day trading on Wednesday after Citigroup raised their price target on the stock from $12.50 to $18.00. Citigroup currently has a buy rating on the stock. SoFi Technologies traded as high as $15.54 and last traded at $15.03. Approximately 17,008,487 shares were traded during trading, a decline of 54% from the average daily volume of 36,955,879 shares. The stock had previously closed at $14.50.

A number of other research analysts also recently issued reports on SOFI. Barclays boosted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Jefferies Financial Group upped their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley lifted their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus target price of $11.71.

Read Our Latest Stock Report on SOFI

Insider Activity

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the transaction, the director now owns 25,937 shares of the company’s stock, valued at $415,510.74. This represents a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock worth $416,889,795 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies during the 3rd quarter worth $27,000. Brooklyn Investment Group purchased a new position in shares of SoFi Technologies in the third quarter worth about $28,000. FNY Investment Advisers LLC boosted its position in SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after acquiring an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in SoFi Technologies during the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in SoFi Technologies in the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

The firm has a market capitalization of $17.69 billion, a PE ratio of 163.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock’s 50 day simple moving average is $15.16 and its two-hundred day simple moving average is $10.52.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period last year, the company earned ($0.03) EPS. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

SoFi Technologies Company Profile

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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.

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