SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.1% Following Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares shot up 2.1% on Friday after Morgan Stanley raised their price target on the stock from $7.50 to $13.00. Morgan Stanley currently has an underweight rating on the stock. SoFi Technologies traded as high as $15.37 and last traded at $15.35. 16,794,154 shares were traded during trading, a decline of 65% from the average session volume of 47,606,477 shares. The stock had previously closed at $15.03.

SOFI has been the topic of a number of other research reports. Bank of America reiterated an "underperform" rating and set a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. Jefferies Financial Group upped their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Barclays boosted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Citigroup downgraded shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Finally, Mizuho boosted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $11.04.

Insider Buying and Selling at SoFi Technologies

In other news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the sale, the director now owns 25,937 shares of the company's stock, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,009,658 shares of company stock valued at $416,825,197 in the last ninety days. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. World Investment Advisors LLC increased its stake in SoFi Technologies by 6.5% in the third quarter. World Investment Advisors LLC now owns 21,745 shares of the company's stock valued at $171,000 after acquiring an additional 1,336 shares during the period. Virtu Financial LLC acquired a new stake in SoFi Technologies during the third quarter valued at approximately $1,649,000. Coldstream Capital Management Inc. bought a new stake in shares of SoFi Technologies in the 3rd quarter valued at approximately $93,000. Geode Capital Management LLC raised its holdings in shares of SoFi Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company's stock worth $138,523,000 after buying an additional 358,806 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of SoFi Technologies by 5.4% during the 3rd quarter. M&T Bank Corp now owns 45,582 shares of the company's stock worth $359,000 after buying an additional 2,332 shares during the period. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Trading Up 2.1 %

The company has a 50 day moving average of $13.55 and a 200 day moving average of $9.43. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 153.52, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. 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 issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. The company's quarterly revenue was up 29.8% compared to the same quarter last year. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current 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.