SoFi Technologies (NASDAQ:SOFI) Shares Up 3.7% on Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was up 3.7% 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 traded hands during mid-day trading, a decline of 54% from the average daily volume of 36,955,879 shares. The stock had previously closed at $14.50.

Several other equities analysts also recently commented on SOFI. Barclays upped their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Bank of America reiterated an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. Finally, Jefferies Financial Group upped their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.71.

Insider Transactions at SoFi Technologies

In other news, Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. This represents a 66.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at $2,926,632.75. The trade was a 4.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,009,264 shares of company stock valued at $416,889,795. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. State Street Corp raised its stake in shares of SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after acquiring an additional 310,532 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of SoFi Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after acquiring an additional 358,806 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Marshall Wace LLP raised its stake in shares of SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after acquiring an additional 3,593,464 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after acquiring an additional 87,097 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

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 has a market cap of $16.83 billion, a P/E ratio of 155.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78. The firm’s 50 day moving average is $15.08 and its 200 day moving average is $10.49.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the previous year, the business posted ($0.03) EPS. SoFi Technologies’s revenue was up 29.8% on a year-over-year basis. Analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current 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.