Shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) dropped 3.8% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $14.09 and last traded at $14.33. Approximately 22,355,840 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 49,571,358 shares. The stock had previously closed at $14.90.
Specifically, Director Magdalena Yesil sold 87,140 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the sale, the director now owns 289,258 shares in the company, valued at $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $13.95, for a total transaction of $1,215,603.00. Following the completion of the transaction, the director now directly owns 376,398 shares of the company’s stock, valued at approximately $5,250,752.10. This trade represents a 18.80% decrease in their ownership of the stock. The disclosure for this sale can be found here.
Wall Street Analyst Weigh In
SOFI has been the subject of a number of research analyst reports. Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Stephens initiated coverage on shares of SoFi Technologies in a report on Thursday. They issued an “overweight” rating and a $20.00 target price for the company. UBS Group increased their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of SoFi Technologies in a report on Wednesday, April 30th. Finally, Citizens Jmp started coverage on SoFi Technologies in a research report on Friday, April 25th. They set an “outperform” rating and a $17.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.73.
SoFi Technologies Stock Performance
The company has a market cap of $15.57 billion, a price-to-earnings ratio of 38.08, a price-to-earnings-growth ratio of 2.24 and a beta of 1.82. The stock’s fifty day simple moving average is $12.79 and its two-hundred day simple moving average is $13.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. SoFi Technologies’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the business earned $0.02 EPS. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.
Hedge Funds Weigh In On SoFi Technologies
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of SoFi Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock valued at $1,156,805,000 after acquiring an additional 1,130,250 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of SoFi Technologies during the 4th quarter valued at $299,980,000. Geode Capital Management LLC lifted its holdings in shares of SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock valued at $276,288,000 after acquiring an additional 315,899 shares in the last quarter. Norges Bank acquired a new position in shares of SoFi Technologies during the 4th quarter valued at $103,678,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SoFi Technologies by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,472,726 shares of the company’s stock valued at $75,278,000 after acquiring an additional 159,109 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.
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.
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