SoFi Technologies (NASDAQ:SOFI) Shares Up 3.6% After Analyst Upgrade

Key Points

• SoFi Technologies' stock price rose 3.6% after Goldman Sachs upgraded its price target from $21.00 to $24.00, maintaining a neutral rating.
• Insider activity included notable sales, with CTO Jeremy Rishel selling 98,733 shares, decreasing his ownership by 11.50%.
• Vanguard Group increased its holdings in SoFi Technologies by 1.1%, reflecting continued interest from institutional investors in the firm.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shot up 3.6% during mid-day trading on Monday after The Goldman Sachs Group raised their price target on the stock from $21.00 to $24.00. The Goldman Sachs Group currently has a neutral rating on the stock. SoFi Technologies traded as high as $27.43 and last traded at $27.14. 62,248,149 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 62,345,039 shares. The stock had previously closed at $26.19.

Several other equities analysts have also issued reports on the stock. TD Cowen started coverage on shares of SoFi Technologies in a report on Friday, July 11th. They issued a "hold" rating and a $21.00 price target on the stock. JMP Securities reissued a "market perform" rating and set a $17.00 price objective on shares of SoFi Technologies in a report on Monday, July 14th. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $25.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Keefe, Bruyette & Woods boosted their price objective on shares of SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley boosted their price objective on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an "underweight" rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $20.47.

Insider Activity

In related news, CTO Jeremy Rishel sold 98,733 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the transaction, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. This represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 10,578 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total transaction of $234,091.14. Following the completion of the sale, the executive vice president directly owned 234,622 shares of the company's stock, valued at $5,192,184.86. This represents a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 129,614 shares of company stock valued at $3,452,672. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of SoFi Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after acquiring an additional 1,130,250 shares during the period. Sullivan Wood Capital Management LLC acquired a new position in shares of SoFi Technologies in the 2nd quarter valued at $2,799,000. CMG Global Holdings LLC increased its holdings in shares of SoFi Technologies by 77.8% in the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after acquiring an additional 61,443 shares during the period. Nicholas Wealth LLC. acquired a new position in shares of SoFi Technologies in the 1st quarter valued at $993,000. Finally, Quantitative Investment Management LLC acquired a new position in shares of SoFi Technologies in the 1st quarter valued at $2,862,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Stock Up 3.6%

The business's fifty day moving average price is $25.59 and its 200 day moving average price is $18.73. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $32.50 billion, a price-to-earnings ratio of 56.54, a PEG ratio of 3.11 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. SoFi Technologies's quarterly revenue was up 42.8% on a year-over-year basis. During the same period last year, the firm posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.26 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.

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