SoFi Technologies (NASDAQ:SOFI) Trading 1.2% Higher on Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded up 1.2% during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $14.00 to $16.00. Mizuho currently has an outperform rating on the stock. SoFi Technologies traded as high as $14.89 and last traded at $14.60. 16,245,984 shares were traded during mid-day trading, a decline of 66% from the average session volume of 47,413,004 shares. The stock had previously closed at $14.42.

A number of other brokerages have also weighed in on SOFI. Needham & Company LLC upped their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective 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. 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 report on Tuesday, October 29th. Citigroup lowered shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. Finally, Barclays boosted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and an average target price of $9.80.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction 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 sale, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 68,081 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares of the company's stock, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $1,649,000. Coldstream Capital Management Inc. purchased a new position in shares of SoFi Technologies in the third quarter worth about $93,000. Geode Capital Management LLC lifted its position in SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company's stock valued at $138,523,000 after purchasing an additional 358,806 shares during the last quarter. M&T Bank Corp raised its holdings in SoFi Technologies by 5.4% during the 3rd quarter. M&T Bank Corp now owns 45,582 shares of the company's stock valued at $359,000 after buying an additional 2,332 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of SoFi Technologies during the third quarter worth about $1,915,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Trading Up 1.7 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a 50-day moving average price of $10.13 and a two-hundred day moving average price of $8.10. The stock has a market capitalization of $15.92 billion, a P/E ratio of 146.70, a price-to-earnings-growth ratio of 2.27 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its 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. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The business's revenue was up 29.8% compared to the same quarter last year. On average, research analysts forecast 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.