SoFi Technologies (NASDAQ:SOFI) Shares Up 1.5% on Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price shot up 1.5% during mid-day trading on Thursday after Truist Financial raised their price target on the stock from $14.00 to $20.00. Truist Financial currently has a hold rating on the stock. SoFi Technologies traded as high as $22.02 and last traded at $21.71. 16,688,646 shares were traded during mid-day trading, a decline of 69% from the average session volume of 53,297,329 shares. The stock had previously closed at $21.39.

Several other brokerages have also issued reports on SOFI. Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a research report on Wednesday, April 30th. JMP Securities reissued a "market perform" rating and issued a $17.00 target price on shares of SoFi Technologies in a research report on Monday. Stephens assumed coverage on SoFi Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 target price for the company. Keefe, Bruyette & Woods raised their price objective on SoFi Technologies from $9.00 to $13.00 and gave the company an "underperform" rating in a research report on Thursday, July 10th. Finally, Cowen assumed coverage on SoFi Technologies in a research report on Friday, July 11th. They set a "hold" rating for the company. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.78.

Insider Transactions at SoFi Technologies

In other news, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the transaction, the director directly owned 289,258 shares in the company, valued at $4,162,422.62. This trade represents a 23.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 66,847 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the transaction, the chief technology officer owned 724,321 shares in the company, valued at approximately $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,095 shares of company stock worth $3,939,168 in the last ninety days. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Berkshire Capital Holdings Inc. grew its holdings in SoFi Technologies by 6,208,000.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock valued at $9,560,000 after purchasing an additional 620,800 shares during the period. CMG Global Holdings LLC grew its holdings in SoFi Technologies by 77.8% during the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after purchasing an additional 61,443 shares during the period. Geode Capital Management LLC grew its holdings in SoFi Technologies by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after purchasing an additional 315,899 shares during the period. MFG Wealth Management Inc. grew its holdings in SoFi Technologies by 27.7% during the first quarter. MFG Wealth Management Inc. now owns 156,277 shares of the company's stock valued at $1,818,000 after purchasing an additional 33,887 shares during the period. Finally, Sowell Financial Services LLC bought a new stake in SoFi Technologies during the first quarter valued at about $259,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 1.3%

The company has a fifty day simple moving average of $15.83 and a 200-day simple moving average of $14.35. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The firm has a market cap of $24.11 billion, a P/E ratio of 53.20, a price-to-earnings-growth ratio of 3.58 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The business's quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.02 earnings per share. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share 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.