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

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price rose 1.8% during mid-day trading 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. Approximately 31,524,910 shares traded hands during trading, a decline of 34% from the average daily volume of 47,514,559 shares. The stock had previously closed at $16.12.

Several other equities research analysts have also recently weighed in on the company. Jefferies Financial Group upped their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group increased their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Mizuho increased their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Barclays increased their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC increased their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.36.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the 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 sale, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 11.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,287 shares of company stock valued at $863,250 in the last three months. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several large investors have recently made changes to their positions in SOFI. Dimensional Fund Advisors LP grew its stake in shares of SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after buying an additional 9,482,683 shares during the period. Marshall Wace LLP grew its stake in shares of SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after buying an additional 3,593,464 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after buying an additional 2,688,847 shares during the period. Mizuho Markets Americas LLC grew its stake in shares of SoFi Technologies by 403.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after buying an additional 2,440,745 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in shares of SoFi Technologies in the 3rd quarter valued at about $16,014,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

The firm has a market cap of $17.26 billion, a P/E ratio of 164.10, a PEG ratio of 2.73 and a beta of 1.60. 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 company’s 50-day moving average is $11.23 and its two-hundred day moving average is $8.53.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating 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 business had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter last year, the firm earned ($0.03) EPS. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, equities analysts predict 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.