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

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price rose 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. Approximately 12,074,722 shares traded hands during trading, a decline of 67% from the average daily volume of 36,663,863 shares. The stock had previously closed at $14.07.

Other equities analysts have also recently issued reports about the stock. Barclays upped their target price on shares of 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 increased their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Mizuho lifted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley upped their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.71.

Insider Transactions at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares in the company, valued at $2,926,632.75. The trade was a 4.53 % 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 worth $416,889,795 over the last three months. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SOFI. Victory Capital Management Inc. raised its stake in shares of SoFi Technologies by 6.9% during the second quarter. Victory Capital Management Inc. now owns 127,342 shares of the company’s stock worth $842,000 after acquiring an additional 8,267 shares in the last quarter. Choreo LLC purchased a new stake in SoFi Technologies in the second quarter worth about $101,000. Oppenheimer & Co. Inc. raised its position in shares of SoFi Technologies by 7.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 246,803 shares of the company’s stock worth $1,631,000 after purchasing an additional 16,999 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after buying an additional 9,482,683 shares in the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new stake in SoFi Technologies during the 2nd quarter valued at $1,125,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Up 5.1 %

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 simple moving average of $15.16 and a two-hundred day simple moving average of $10.52. The firm has a market cap of $17.69 billion, a PE ratio of 163.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last released 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 return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the previous year, the business earned ($0.03) earnings per share. SoFi Technologies’s quarterly revenue was up 29.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS 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.