Jeremy Rishel Sells 68,081 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $7.73 on Thursday. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $10.49. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm has a market cap of $8.17 billion, a P/E ratio of -24.94, a PEG ratio of 1.60 and a beta of 1.70. The business’s 50-day moving average price is $7.36 and its 200 day moving average price is $7.15.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) EPS. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on SOFI. Keefe, Bruyette & Woods cut their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Barclays cut their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Finally, BTIG Research started coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.14.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in shares of SoFi Technologies in the 2nd quarter valued at $731,000. EP Wealth Advisors LLC lifted its stake in SoFi Technologies by 1.6% during the second quarter. EP Wealth Advisors LLC now owns 382,844 shares of the company’s stock valued at $2,531,000 after buying an additional 6,122 shares in the last quarter. Quarry LP acquired a new position in shares of SoFi Technologies in the second quarter worth about $84,000. Second Line Capital LLC increased its position in shares of SoFi Technologies by 1.3% in the second quarter. Second Line Capital LLC now owns 244,446 shares of the company’s stock worth $1,616,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of SoFi Technologies by 64.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock valued at $1,948,000 after acquiring an additional 115,316 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.