Insider Selling: SoFi Technologies, Inc. (NASDAQ:SOFI) Director Sells 24,105,908 Shares of Stock

by · The Cerbat Gem

SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Iv (Gp) L.L.C. Slta also recently made the following trade(s):

  • On Monday, December 2nd, Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock. The shares were sold at an average price of $16.06, for a total value of $28,242,361.18.

SoFi Technologies Price Performance

Shares of SOFI stock traded up $0.44 during trading hours on Wednesday, reaching $16.32. 40,262,406 shares of the company were exchanged, compared to its average volume of 47,488,414. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $16.61. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a market cap of $17.71 billion, a price-to-earnings ratio of 164.12, a P/E/G ratio of 2.65 and a beta of 1.77. The stock’s fifty day moving average is $11.55 and its two-hundred day moving average is $8.65.

SoFi Technologies (NASDAQ:SOFI – Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SOFI. Mizuho boosted their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday. Needham & Company LLC upped their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and a consensus target price of $10.36.

Check Out Our Latest Analysis on SOFI

Institutional Trading of SoFi Technologies

Several hedge funds have recently modified their holdings of SOFI. Charles Schwab Investment Management Inc. grew its stake in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after acquiring an additional 87,097 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of SoFi Technologies by 41.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock worth $1,892,000 after buying an additional 70,603 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after buying an additional 2,688,847 shares during the last quarter. Qsemble Capital Management LP purchased a new position in shares of SoFi Technologies in the 3rd quarter worth about $930,000. Finally, Mount Lucas Management LP purchased a new position in shares of SoFi Technologies in the 3rd quarter worth about $920,000. Institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

(Get Free Report)

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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