SoFi Technologies (NASDAQ:SOFI) Shares Up 2.8% Following Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price shot up 2.8% during mid-day trading on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $9.00 to $13.00. Keefe, Bruyette & Woods currently has an underperform rating on the stock. SoFi Technologies traded as high as $21.86 and last traded at $21.57. 33,247,229 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 53,061,616 shares. The stock had previously closed at $20.97.

Several other research firms have also issued reports on SOFI. Truist Financial began coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They issued a "hold" rating and a $14.00 price target on the stock. JMP Securities started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective on the stock. Barclays lifted their price objective on shares of SoFi Technologies from $12.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Finally, UBS Group lifted their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $15.81.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 10,267 shares of SoFi Technologies stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.22, for a total value of $156,263.74. Following the completion of the sale, the executive vice president owned 255,467 shares of the company's stock, valued at approximately $3,888,207.74. The trade was a 3.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the sale, the chief technology officer directly owned 724,321 shares of the company's stock, valued at approximately $11,263,191.55. The trade was a 8.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 274,095 shares of company stock valued at $3,939,168. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in shares of SoFi Technologies by 147.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 10,771 shares of the company's stock worth $196,000 after purchasing an additional 6,423 shares during the period. Brendel Financial Advisors LLC bought a new position in shares of SoFi Technologies during the 2nd quarter worth about $2,533,000. White Wing Wealth Management bought a new position in shares of SoFi Technologies during the 2nd quarter worth about $187,000. Global Financial Private Client LLC increased its holdings in shares of SoFi Technologies by 25.4% during the 2nd quarter. Global Financial Private Client LLC now owns 17,313 shares of the company's stock worth $315,000 after purchasing an additional 3,507 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of SoFi Technologies during the 2nd quarter worth about $6,415,000. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Stock Performance

The firm's fifty day moving average price is $15.15 and its 200-day moving average price is $14.20. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The company has a market cap of $23.43 billion, a P/E ratio of 51.71, a P/E/G ratio of 3.53 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The firm's revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. As a group, research analysts forecast that SoFi Technologies, Inc. will post 0.26 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.