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

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was up 1.2% during 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. Approximately 16,245,984 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 47,413,004 shares. The stock had previously closed at $14.42.

A number of other research analysts have also recently weighed in on the stock. Barclays boosted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their price target 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. Needham & Company LLC raised 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. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group increased their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.80.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,697 shares of company stock worth $723,620. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

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

SoFi Technologies Trading Up 2.3 %

The company’s 50 day simple moving average is $10.28 and its two-hundred day simple moving average is $8.15. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $16.29 billion, a price-to-earnings ratio of 150.12, a P/E/G ratio of 2.40 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $631.59 million. During the same period last year, the business posted ($0.03) earnings per share. The firm’s revenue was up 29.8% compared to the same quarter last year. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share 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.