SoFi Technologies (NASDAQ:SOFI) Shares Up 1.5% on Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price shot up 1.5% on Thursday after Truist Financial raised their price target on the stock from $14.00 to $20.00. Truist Financial currently has a hold rating on the stock. SoFi Technologies traded as high as $22.02 and last traded at $21.71. 16,688,646 shares changed hands during trading, a decline of 69% from the average session volume of 53,297,329 shares. The stock had previously closed at $21.39.

A number of other analysts also recently weighed in on SOFI. JMP Securities reissued a “market perform” rating and set a $17.00 target price on shares of SoFi Technologies in a research report on Monday. Keefe, Bruyette & Woods increased their price target on SoFi Technologies from $9.00 to $13.00 and gave the stock an “underperform” rating in a report on Thursday, July 10th. Stephens began coverage on SoFi Technologies in a report on Thursday, June 12th. They set an “overweight” rating and a $20.00 price target on the stock. TD Cowen began coverage on SoFi Technologies in a report on Friday, July 11th. They set a “hold” rating and a $21.00 price target on the stock. Finally, UBS Group increased their price target on SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.78.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 11,520 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total value of $154,137.60. Following the completion of the sale, the executive vice president directly owned 203,509 shares of the company’s stock, valued at approximately $2,722,950.42. This represents a 5.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the firm’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the sale, the director directly owned 289,258 shares of the company’s stock, valued at approximately $4,162,422.62. This represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,095 shares of company stock worth $3,939,168 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently made changes to their positions in the business. Hazlett Burt & Watson Inc. increased its holdings in SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after acquiring an additional 2,200 shares during the last quarter. Headlands Technologies LLC purchased a new stake in SoFi Technologies in the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new stake in shares of SoFi Technologies during the 1st quarter valued at about $28,000. Garde Capital Inc. bought a new stake in shares of SoFi Technologies during the 1st quarter valued at about $31,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of SoFi Technologies during the 4th quarter valued at about $32,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Trading Up 3.3%

The stock has a market cap of $24.42 billion, a P/E ratio of 53.88, a P/E/G ratio of 3.58 and a beta of 1.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80. The stock has a 50-day moving average price of $15.83 and a 200-day moving average price of $14.35.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the company posted $0.02 EPS. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 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.