SoFi Technologies, Inc. (NASDAQ:SOFI) Director Bashir Ruzwana Sells 52,000 Shares

SoFi Technologies, Inc. (NASDAQ:SOFI) Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total transaction of $833,040.00. Following the sale, the director now directly owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. This represents a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $16.25 on Friday. The company has a market cap of $17.63 billion, a P/E ratio of 162.50, 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 company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm’s fifty day moving average is $12.83 and its two-hundred day moving average is $9.14.

SoFi Technologies (NASDAQ:SOFI) last issued its 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. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The business’s revenue was up 29.8% compared to the same quarter last year. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SOFI shares. The Goldman Sachs Group boosted their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Bank of America restated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Needham & Company LLC lifted 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. Barclays increased their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted 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. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.50.

Institutional Trading of SoFi Technologies

Hedge funds have recently modified their holdings of the company. Comerica Bank increased its position in SoFi Technologies by 27.1% in the first quarter. Comerica Bank now owns 23,782 shares of the company’s stock worth $174,000 after purchasing an additional 5,071 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of SoFi Technologies by 2,263.0% in the 2nd quarter. SG Americas Securities LLC now owns 351,332 shares of the company’s stock worth $2,322,000 after buying an additional 336,464 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in shares of SoFi Technologies by 8.0% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 33,771 shares of the company’s stock worth $223,000 after buying an additional 2,495 shares during the last quarter. Miracle Mile Advisors LLC raised its position in shares of SoFi Technologies by 3.7% during the 2nd quarter. Miracle Mile Advisors LLC now owns 84,350 shares of the company’s stock valued at $558,000 after buying an additional 3,000 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of SoFi Technologies by 783.5% in the 2nd quarter. Blue Trust Inc. now owns 8,102 shares of the company’s stock valued at $59,000 after acquiring an additional 7,185 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.