SoFi Technologies (NASDAQ:SOFI) Trading Up 3.7% After Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shot up 3.7% on Wednesday after Citigroup raised their price target on the stock from $12.50 to $18.00. Citigroup currently has a buy rating on the stock. SoFi Technologies traded as high as $15.54 and last traded at $15.03. 17,008,487 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 36,955,879 shares. The stock had previously closed at $14.50.

SOFI has been the subject of a number of other reports. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Barclays boosted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC upped their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $11.71.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of the company's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the transaction, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the firm's stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,009,264 shares of company stock worth $416,889,795 in the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies during the third quarter worth about $27,000. Brooklyn Investment Group acquired a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $28,000. FNY Investment Advisers LLC increased its position in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after purchasing an additional 1,905 shares during the period. Waldron Private Wealth LLC acquired a new position in shares of SoFi Technologies in the third quarter valued at $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in SoFi Technologies in the third quarter worth $47,000. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Price Performance

The stock has a market cap of $16.83 billion, a P/E ratio of 155.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company's fifty day simple moving average is $15.08 and its 200-day simple moving average is $10.49.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company's quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) earnings per share. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 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.