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

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot 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. 17,008,487 shares were traded during trading, a decline of 54% from the average session volume of 36,955,879 shares. The stock had previously closed at $14.50.

SOFI has been the subject of several other research reports. Needham & Company LLC raised their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. raised their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned 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 $11.71.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric Schuppenhauer bought 30,600 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the purchase, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. This represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 26,009,264 shares of company stock worth $416,889,795 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in SoFi Technologies in the 3rd quarter valued at $27,000. Brooklyn Investment Group bought a new stake in SoFi Technologies in the 3rd quarter valued at $28,000. FNY Investment Advisers LLC increased its holdings in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in SoFi Technologies in the 3rd quarter valued at $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in SoFi Technologies in the 3rd quarter valued at $47,000. Hedge funds and other 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 company has a market capitalization of $16.83 billion, a P/E ratio of 155.12, a P/E/G ratio of 2.70 and a beta of 1.78. The business’s fifty day simple moving average is $15.08 and its 200-day simple moving average is $10.49.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the previous year, the firm posted ($0.03) EPS. The business’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

About SoFi Technologies

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.