SoFi Technologies, Inc. (NASDAQ:SOFI) Director Sells $833,040.00 in Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the transaction, the director now directly owns 25,937 shares in the company, valued at $415,510.74. The trade was a 66.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI traded up $0.35 during midday trading on Friday, hitting $16.25. The stock had a trading volume of 41,564,175 shares, compared to its average volume of 47,581,461. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $16.61. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $12.67 and a two-hundred day moving average price of $9.06. The company has a market capitalization of $17.63 billion, a PE ratio of 159.62, a P/E/G ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS 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 analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) EPS. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies in the third quarter valued at $27,000. Brooklyn Investment Group purchased a new stake in shares of SoFi Technologies in the 3rd quarter worth about $28,000. Allspring Global Investments Holdings LLC grew its stake in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares during the last quarter. Waldron Private Wealth LLC purchased a new position in SoFi Technologies during the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in SoFi Technologies during the third quarter worth about $47,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Mizuho upped their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Bank of America reaffirmed an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday. Barclays boosted their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC raised their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $10.50.

About SoFi Technologies

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.