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

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price rose 3.7% during trading 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. Approximately 17,008,487 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 36,955,879 shares. The stock had previously closed at $14.50.

Several other analysts have also commented on SOFI. Jefferies Financial Group lifted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Morgan Stanley increased their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research report on Thursday, December 19th. Mizuho upped their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group lifted their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies has an average rating of "Hold" and a consensus target price of $11.71.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the transaction, the director now owns 482,083 shares in the company, valued at $7,742,252.98. This trade represents a 78.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $96,430.88. Following the sale, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,009,264 shares of company stock valued at $416,889,795. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock worth $48,306,000 after buying an additional 87,097 shares during the last quarter. Zacks Investment Management bought a new stake in SoFi Technologies during the third quarter worth approximately $3,766,000. Citizens Financial Group Inc. RI raised its position in SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company's stock valued at $1,892,000 after purchasing an additional 70,603 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the last quarter. Finally, Qsemble Capital Management LP purchased a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $930,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Trading Up 7.0 %

The company has a 50-day moving average price of $15.08 and a two-hundred day moving average price of $10.49. The stock has a market cap of $16.83 billion, a P/E ratio of 155.12, a P/E/G 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.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results 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 net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The business's revenue for the quarter was up 29.8% on a year-over-year basis. On average, research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS 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.