SoFi Technologies (NASDAQ:SOFI) Trading Up 3.3% on Analyst Upgrade

Key Points

• SoFi Technologies shares rose by 3.3% after Truist Financial raised its price target from $23.00 to $29.00, maintaining a hold rating on the stock.
• Analysts have varied opinions on the stock, with a consensus target price of $21.18 and varying ratings ranging from strong buy to sell.
• Insider trading revealed significant sell-offs, with executives Kelli Keough and Jeremy Rishel selling a total of 108,769 shares recently, reflecting a notable decrease in their holdings.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares were up 3.3% on Friday after Truist Financial raised their price target on the stock from $23.00 to $29.00. Truist Financial currently has a hold rating on the stock. SoFi Technologies traded as high as $29.87 and last traded at $29.01. Approximately 52,573,618 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 62,425,719 shares. The stock had previously closed at $28.08.

SOFI has been the topic of several other research reports. Morgan Stanley upped their target price on shares of SoFi Technologies from $13.00 to $18.00 and gave the stock an "underweight" rating in a research note on Monday, September 29th. Barclays upped their target price on shares of SoFi Technologies from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Mizuho upped their target price on shares of SoFi Technologies from $26.00 to $31.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. Redburn Atlantic upgraded shares of SoFi Technologies to a "hold" rating in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of SoFi Technologies from $14.00 to $18.00 and gave the company an "underperform" rating in a research report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of "Hold" and a consensus target price of $21.18.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 10,036 shares of the firm's stock in a transaction on Monday, October 20th. The shares were sold at an average price of $28.33, for a total transaction of $284,319.88. Following the sale, the executive vice president directly owned 275,374 shares in the company, valued at $7,801,345.42. This trade represents a 3.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the sale, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. The trade was a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,383 shares of company stock worth $3,513,171 over the last 90 days. Insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of SOFI. Norges Bank bought a new stake in shares of SoFi Technologies during the 2nd quarter valued at $164,068,000. Quadrature Capital Ltd bought a new stake in SoFi Technologies in the 2nd quarter valued at $115,188,000. Nuveen LLC bought a new stake in SoFi Technologies in the 1st quarter valued at $47,616,000. Marshall Wace LLP increased its holdings in SoFi Technologies by 88.2% in the 2nd quarter. Marshall Wace LLP now owns 7,997,146 shares of the company's stock valued at $145,628,000 after acquiring an additional 3,748,817 shares during the last quarter. Finally, Mizuho Markets Cayman LP bought a new stake in SoFi Technologies in the 2nd quarter valued at $45,525,000. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The company has a market capitalization of $34.74 billion, a P/E ratio of 60.44, a P/E/G ratio of 3.23 and a beta of 1.92. The business's fifty day simple moving average is $26.52 and its 200-day simple moving average is $19.65.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The company had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. SoFi Technologies's revenue for the quarter was up 42.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 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.

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