Insider Selling: SoFi Technologies, Inc. (NASDAQ:SOFI) Director Sells $134,515,694.94 in Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) Director Qatar Investment Authority sold 19,840,073 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total value of $134,515,694.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

SoFi Technologies Stock Down 5.0 %

SoFi Technologies stock opened at $6.46 on Monday. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of -20.84, a price-to-earnings-growth ratio of 1.50 and a beta of 1.72. The firm’s fifty day moving average price is $7.13 and its two-hundred day moving average price is $7.80. SoFi Technologies, Inc. has a 1-year low of $6.41 and a 1-year high of $11.70. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $580.60 million for the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) EPS. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently bought and sold shares of SOFI. Vanguard Group Inc. boosted its holdings in SoFi Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock worth $604,632,000 after acquiring an additional 1,366,271 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in SoFi Technologies by 176.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after purchasing an additional 6,870,610 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in 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 in the last quarter. Norges Bank purchased a new stake in SoFi Technologies in the 4th quarter valued at about $71,349,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of SoFi Technologies by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock worth $54,659,000 after buying an additional 199,949 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SOFI shares. Deutsche Bank Aktiengesellschaft cut their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday, April 30th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Citigroup initiated coverage on shares of SoFi Technologies in a report on Monday, April 8th. They issued a “buy” rating and a $11.00 target price on the stock. Wedbush reissued an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their target price for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.08.

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.