Eric Schuppenhauer Purchases 30,600 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) EVP Eric Schuppenhauer acquired 30,600 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the acquisition, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. This trade represents a 197.36 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

SoFi Technologies Stock Performance

Shares of SOFI opened at $16.66 on Wednesday. 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 firm’s 50 day moving average is $13.16 and its 200-day moving average is $9.29. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $17.17. The stock has a market capitalization of $18.08 billion, a P/E ratio of 166.60, a P/E/G ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm 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 for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) earnings per share. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds have recently modified their holdings of the stock. Comerica Bank increased its stake in SoFi Technologies by 27.1% in the 1st quarter. Comerica Bank now owns 23,782 shares of the company’s stock worth $174,000 after purchasing an additional 5,071 shares in the last quarter. Blue Trust Inc. increased its position in shares of SoFi Technologies by 783.5% in the second quarter. Blue Trust Inc. now owns 8,102 shares of the company’s stock worth $59,000 after acquiring an additional 7,185 shares in the last quarter. Brookstone Capital Management acquired a new stake in shares of SoFi Technologies during the second quarter valued at approximately $401,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of SoFi Technologies by 6.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock valued at $75,737,000 after acquiring an additional 690,638 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in SoFi Technologies by 28.6% in the 2nd quarter. Raymond James & Associates now owns 520,301 shares of the company’s stock worth $3,439,000 after purchasing an additional 115,639 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on SOFI. JPMorgan Chase & Co. raised their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Jefferies Financial Group raised their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group boosted their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Mizuho raised their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Barclays upped their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Three research 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. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target 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.