SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.4% Following Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price shot up 2.4% during mid-day trading on Thursday after Barclays raised their price target on the stock from $11.00 to $12.00. Barclays currently has an equal weight rating on the stock. SoFi Technologies traded as high as $12.92 and last traded at $12.82. 22,078,750 shares were traded during mid-day trading, a decline of 53% from the average session volume of 46,659,481 shares. The stock had previously closed at $12.51.

Several other brokerages have also recently issued reports on SOFI. Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. William Blair restated an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. The Goldman Sachs Group increased their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. JMP Securities began coverage on SoFi Technologies in a research note on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price objective for the company. Finally, Citizens Jmp assumed coverage on shares of SoFi Technologies in a report on Friday, April 25th. They set an "outperform" rating and a $17.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $14.38.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the transaction, the executive vice president now directly owns 169,626 shares of the company's stock, valued at $2,617,329.18. This trade represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,172 shares of company stock worth $1,271,115. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after acquiring an additional 8,898,879 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of SoFi Technologies during the fourth quarter worth $299,980,000. Geode Capital Management LLC increased its stake 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 worth $276,288,000 after purchasing an additional 315,899 shares during the period. Norges Bank purchased a new stake in shares of SoFi Technologies during the fourth quarter worth $103,678,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of SoFi Technologies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock worth $97,230,000 after buying an additional 167,780 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Price Performance

The stock's fifty day moving average price is $11.99 and its two-hundred day moving average price is $13.78. The firm has a market capitalization of $14.10 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm's revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. Equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current 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.