SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.8% on Analyst Upgrade

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) were up 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 were traded during mid-day trading, a decline of 34% from the average daily volume of 47,514,559 shares. The stock had previously closed at $16.12.

SOFI has been the topic of a number of other reports. Mizuho lifted their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. Citigroup downgraded SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Needham & Company LLC raised their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $10.36.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,590 shares of the firm's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the sale, the executive vice president now directly owns 142,613 shares in the company, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares of the company's stock, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,287 shares of company stock worth $863,250. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Citizens Financial Group Inc. RI lifted its holdings in SoFi Technologies by 41.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company's stock worth $1,892,000 after buying an additional 70,603 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock worth $30,971,000 after acquiring an additional 2,688,847 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock valued at $48,306,000 after purchasing an additional 87,097 shares during the period. Qsemble Capital Management LP bought a new stake in shares of SoFi Technologies during the third quarter valued at about $930,000. Finally, Mount Lucas Management LP acquired a new stake in SoFi Technologies in the third quarter worth about $920,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 3.0 %

The stock has a market cap of $17.26 billion, a P/E ratio of 164.10, a price-to-earnings-growth 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 stock's 50-day moving average is $11.23 and its 200-day moving average is $8.53.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business's revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) earnings per share. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share 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.