SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.7% After Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price shot up 0.7% on Thursday 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 $15.99 and last traded at $15.35. 17,465,073 shares were traded during trading, a decline of 63% from the average session volume of 47,627,586 shares. The stock had previously closed at $15.24.

SOFI has been the subject of a number of other research reports. Mizuho lifted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Needham & Company LLC lifted their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Bank of America reissued an "underperform" rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Citigroup lowered SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group upped their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and a consensus price target of $11.04.

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Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,081 shares of the firm's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares of the company's stock, valued at approximately $1,290,472.89. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,012,748 shares of company stock valued at $416,356,356 in the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies during the third quarter worth about $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $28,000. Allspring Global Investments Holdings LLC raised its holdings in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock valued at $29,000 after purchasing an additional 1,543 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in shares of SoFi Technologies in the third quarter worth $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in SoFi Technologies during the third quarter worth $47,000. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The business's 50-day moving average is $13.30 and its two-hundred day moving average is $9.33. The firm has a market cap of $16.31 billion, a P/E ratio of 150.32, a P/E/G ratio of 2.65 and a beta of 1.77.

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