Insider Selling: SoFi Technologies, Inc. (NASDAQ:SOFI) EVP Sells 9,308 Shares of Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Kelli Keough also recently made the following trade(s):

• On Monday, September 23rd, Kelli Keough sold 9,308 shares of SoFi Technologies stock. The stock was sold at an average price of $7.99, for a total value of $74,370.92.
• On Thursday, August 22nd, Kelli Keough sold 24,939 shares of SoFi Technologies stock. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14.

SoFi Technologies Stock Performance

SoFi Technologies stock traded down $0.16 during trading hours on Wednesday, hitting $10.42. The stock had a trading volume of 37,922,792 shares, compared to its average volume of 45,803,137. The company has a market cap of $11.02 billion, a PE ratio of -33.77, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $10.65. The company has a 50-day moving average of $8.07 and a two-hundred day moving average of $7.37.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SOFI has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. Barclays lowered their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods dropped their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average price target of $9.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after purchasing an additional 9,482,683 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after purchasing an additional 6,870,610 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of SoFi Technologies by 176.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after purchasing an additional 6,870,610 shares during the last quarter. Marshall Wace LLP lifted its holdings in SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after purchasing an additional 3,593,464 shares during the last quarter. Finally, Mizuho Markets Americas LLC boosted its position in SoFi Technologies by 403.4% in the second quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after buying an additional 2,440,745 shares in the last quarter. Institutional investors and hedge funds 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.