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SAN FRANCISCO—Ruzwana Bashir, a director at SoFi Technologies, Inc. (NASDAQ:SOFI), reported selling 52,000 shares of the company’s common stock. The transactions, which took place on December 12, were executed at a weighted average price of $16.0228 per share, within a price range of $16.02 to $16.04. The total value of the shares sold amounted to $833,185.
Following these transactions, Bashir holds 25,937 shares of SoFi Technologies. The sales were carried out directly, as detailed in the recent SEC filing.
Investors often monitor insider transactions like these for potential insights into the company’s financial health and future prospects.
In other recent news, SoFi Technologies has reported robust growth in its third quarter of 2024, with adjusted net revenue hitting $689 million, marking a 30% increase from the previous year. The financial services segment doubled its revenue to $238 million, and the tech platform saw a 14% rise to nearly $103 million. Meanwhile, BofA Securities has downgraded SoFi from Neutral to Underperform due to concerns over the company's valuation, despite strong performance in its student loan refinance business. On the other hand, Mizuho (NYSE:MFG) Securities has raised its price target on SoFi's stock to $16.00, reflecting a more optimistic outlook for the company's financial performance and market position. In the midst of these developments, Silver Lake Technology Associates IV and related entities have sold approximately 31.2 million shares of SoFi. These recent developments highlight the dynamic financial landscape for SoFi Technologies.
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