SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.8% After Analyst Upgrade

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 1.8% during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $9.00 to $16.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. SoFi Technologies traded as high as $16.61 and last traded at $16.41. 31,524,910 shares were traded during mid-day trading, a decline of 34% from the average session volume of 47,514,559 shares. The stock had previously closed at $16.12.

A number of other brokerages have also weighed in on SOFI. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays increased their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price target 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 lifted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.36.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies 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 sale, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,287 shares of company stock worth $863,250. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors have recently modified their holdings of SOFI. Captrust Financial Advisors grew its stake in SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after purchasing an additional 809 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in shares of SoFi Technologies by 0.3% in the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after acquiring an additional 855 shares in the last quarter. CIBC Asset Management Inc lifted its stake in SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after acquiring an additional 962 shares during the period. Oak Harbor Wealth Partners LLC grew its holdings in SoFi Technologies by 10.0% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Stratos Wealth Advisors LLC increased its position in SoFi Technologies by 3.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after purchasing an additional 1,054 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Performance

The firm’s fifty day moving average price is $11.23 and its 200 day moving average price is $8.52. The firm has a market cap of $17.81 billion, a P/E ratio of 164.10, a price-to-earnings-growth ratio of 2.73 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $631.59 million. During the same period last year, the business earned ($0.03) EPS. The company’s revenue was up 29.8% compared to the same quarter last year. Sell-side 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.