SoFi Technologies (NASDAQ:SOFI) Stock Price Up 3.6% on Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares shot up 3.6% during mid-day trading on Thursday 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 $21.32 and last traded at $20.94. 41,881,048 shares changed hands during trading, a decline of 21% from the average session volume of 52,903,350 shares. The stock had previously closed at $20.22.

Several other equities research analysts also recently commented on SOFI. Citizens Jmp started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price target for the company. Stephens assumed coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price objective on the stock. JMP Securities began coverage on SoFi Technologies in a research report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price target for the company. UBS Group raised their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $15.47.

Insider Transactions at SoFi Technologies

In related news, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the sale, the director directly owned 289,258 shares of the company's stock, valued at $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 10,267 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.22, for a total transaction of $156,263.74. Following the sale, the executive vice president directly owned 255,467 shares in the company, valued at approximately $3,888,207.74. The trade was a 3.86% 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. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently added to or reduced their stakes in SOFI. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of SoFi Technologies during the fourth quarter worth about $27,000. Hollencrest Capital Management bought a new stake in shares of SoFi Technologies in the fourth quarter valued at $31,000. Mpwm Advisory Solutions LLC purchased a new stake in SoFi Technologies during the fourth quarter valued at about $32,000. Hazlett Burt & Watson Inc. boosted its holdings in SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after buying an additional 2,200 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of SoFi Technologies in the first quarter worth $28,000. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Up 3.7%

The stock has a fifty day simple moving average of $14.98 and a two-hundred day simple moving average of $14.17. 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 firm has a market cap of $23.18 billion, a PE ratio of 51.15, a price-to-earnings-growth ratio of 3.42 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The firm's quarterly revenue was up 32.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal 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.