SoFi Technologies (NASDAQ:SOFI) Trading 3.7% Higher After Analyst Upgrade

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded up 3.7% during mid-day trading 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 changed hands during mid-day trading, a decline of 54% from the average session volume of 36,955,879 shares. The stock had previously closed at $14.50.

Other research analysts also recently issued reports about the company. Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Morgan Stanley boosted 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. Bank of America reaffirmed an "underperform" rating and issued a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $11.71.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares of the company's stock, valued at approximately $9,219,685.68. This represents a 9.98 % 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 Kelli Keough sold 8,914 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the transaction, the executive vice president now owns 187,725 shares in the company, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,009,264 shares of company stock worth $416,889,795. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies in the 3rd quarter valued at about $27,000. Brooklyn Investment Group bought a new stake in SoFi Technologies during the 3rd quarter valued at $28,000. FNY Investment Advisers LLC increased its holdings in shares of 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 period. Waldron Private Wealth LLC bought a new position in shares of SoFi Technologies in the 3rd quarter worth $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth $47,000. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Performance

The business has a 50-day moving average of $15.16 and a two-hundred day moving average of $10.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a market cap of $17.69 billion, a P/E ratio of 163.02, a P/E/G ratio of 0.96 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) 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 quarter in the previous year, the firm earned ($0.03) EPS. The company's quarterly revenue was up 29.8% compared to the same quarter last year. On average, sell-side 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.