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 completion of the sale, the director now directly owns 25,937 shares of the company’s stock, valued at $415,510.74. The trade was a 66.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

SoFi Technologies Trading Up 2.2 %

Shares of SOFI stock opened at $16.25 on Friday. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $16.61. The company has a market capitalization of $17.63 billion, a PE ratio of 162.52, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. The firm 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 quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same period in the previous year, the company posted ($0.03) EPS. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on SOFI shares. JPMorgan Chase & Co. raised their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Needham & Company LLC boosted 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 raised 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. Jefferies Financial Group increased their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Mizuho lifted their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Three equities research 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. Based on data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $10.50.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after purchasing an additional 87,097 shares during the period. Zacks Investment Management bought a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $3,766,000. Citizens Financial Group Inc. RI boosted its position in shares of SoFi Technologies by 41.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock worth $1,892,000 after acquiring an additional 70,603 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after purchasing an additional 2,688,847 shares during the last quarter. Finally, Qsemble Capital Management LP bought a new stake in shares of SoFi Technologies during the 3rd quarter worth $930,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.