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 SoFi Technologies 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 sale, the director now directly owns 25,937 shares of the company’s stock, valued at $415,510.74. This represents a 66.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $16.25 on Monday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $17.63 billion, a PE ratio of 162.50, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $16.61. The stock’s 50-day simple moving average is $12.83 and its 200 day simple moving average is $9.15.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the prior year, the company earned ($0.03) EPS. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently modified their holdings of the company. Captrust Financial Advisors raised its position in SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after purchasing an additional 809 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of SoFi Technologies by 0.3% in the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after buying an additional 855 shares during the period. CIBC Asset Management Inc boosted its position in SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after buying an additional 962 shares during the period. Oak Harbor Wealth Partners LLC grew its holdings in SoFi Technologies by 10.0% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Stratos Wealth Advisors LLC increased its position in SoFi Technologies by 3.3% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after acquiring an additional 1,054 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SOFI. Barclays raised their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Bank of America restated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, Mizuho upped their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.50.

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.