SoFi Technologies (NASDAQ:SOFI) Stock Price Up 4.1% After Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 4.1% on Tuesday 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 $14.86 and last traded at $14.65. 12,074,722 shares were traded during trading, a decline of 67% from the average session volume of 36,663,863 shares. The stock had previously closed at $14.07.

SOFI has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Barclays raised their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Needham & Company LLC lifted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, Mizuho boosted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.71.

Insider Buying and Selling

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the sale, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,009,264 shares of company stock valued at $416,889,795 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

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

SoFi Technologies Trading Up 5.1 %

The business has a 50 day simple moving average of $15.16 and a 200-day simple moving average of $10.52. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of 163.02, a PEG ratio of 0.96 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

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