Insider Selling: SoFi Technologies, Inc. (NASDAQ:SOFI) Director Sells 52,000 Shares of Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now owns 25,937 shares of the company’s stock, valued at $415,510.74. The trade was a 66.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

SoFi Technologies Stock Performance

Shares of SOFI opened at $16.25 on Friday. The firm has a market capitalization of $17.63 billion, a P/E ratio of 162.52, a P/E/G ratio of 2.65 and a beta of 1.77. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $16.61. The stock has a 50 day moving average price of $12.83 and a two-hundred day moving average price of $9.12. 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 announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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%. SoFi Technologies’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Equities analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays lifted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America reaffirmed an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Finally, Mizuho upped their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.50.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank lifted its stake in shares of SoFi Technologies by 27.1% during the 1st quarter. Comerica Bank now owns 23,782 shares of the company’s stock valued at $174,000 after buying an additional 5,071 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of SoFi Technologies by 2,263.0% in the second quarter. SG Americas Securities LLC now owns 351,332 shares of the company’s stock valued at $2,322,000 after acquiring an additional 336,464 shares during the period. Dynamic Advisor Solutions LLC grew its stake in SoFi Technologies by 8.0% during the second quarter. Dynamic Advisor Solutions LLC now owns 33,771 shares of the company’s stock valued at $223,000 after acquiring an additional 2,495 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in SoFi Technologies by 3.7% in the 2nd quarter. Miracle Mile Advisors LLC now owns 84,350 shares of the company’s stock valued at $558,000 after purchasing an additional 3,000 shares during the period. Finally, Blue Trust Inc. raised its position in shares of SoFi Technologies by 783.5% in the second quarter. Blue Trust Inc. now owns 8,102 shares of the company’s stock worth $59,000 after buying an additional 7,185 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

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.