SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Jeremy Rishel Sells 64,991 Shares

SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $15.35 on Friday. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $17.19. The business’s 50-day simple moving average is $13.55 and its 200 day simple moving average is $9.43. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 153.52, a P/E/G ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly 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. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same period last year, the firm posted ($0.03) earnings per share. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SOFI. Bank of America reissued an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Morgan Stanley boosted their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. upped their target price 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. Finally, Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.04.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its holdings in SoFi Technologies by 1.7% in the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after acquiring an additional 310,532 shares during the period. Geode Capital Management LLC lifted its stake in SoFi Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after purchasing an additional 358,806 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after acquiring an additional 9,482,683 shares during the last quarter. Marshall Wace LLP boosted its position in SoFi Technologies by 130.0% in the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after buying an additional 3,593,464 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in SoFi Technologies by 1.4% during 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 during the last quarter. 38.43% of the stock is owned by institutional investors.

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.