SoFi Technologies (NASDAQ:SOFI) Shares Up 0.5% Following Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 0.5% during mid-day trading on Tuesday 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 $14.06 and last traded at $14.00. 9,178,809 shares traded hands during trading, a decline of 81% from the average session volume of 47,422,000 shares. The stock had previously closed at $13.93.

SOFI has been the subject of a number of other reports. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Jefferies Financial Group lifted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Barclays boosted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.80.

Insider Activity

In related news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at $1,290,472.89. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of SoFi Technologies during the 3rd quarter worth about $27,000. Brooklyn Investment Group purchased a new position in SoFi Technologies in the third quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC raised its holdings in SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after buying an additional 1,981 shares during the last quarter. Finally, Waldron Private Wealth LLC acquired a new position in shares of SoFi Technologies in the 3rd quarter valued at $39,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Price Performance

The stock’s 50-day moving average is $9.84 and its 200 day moving average is $8.00. 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 market capitalization of $15.19 billion, a PE ratio of 140.01, a P/E/G ratio of 2.27 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last posted 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. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the previous 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.

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.