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

SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

SoFi Technologies Stock Up 2.1 %

SOFI opened at $15.35 on Friday. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $17.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 153.52, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. The firm’s fifty day moving average is $13.55 and its 200 day moving average is $9.43.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data 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 analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) earnings per share. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies during the third quarter worth $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies during the 3rd quarter valued at about $28,000. Allspring Global Investments Holdings LLC grew its position in shares of SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares in the last quarter. Waldron Private Wealth LLC bought a new stake in shares of SoFi Technologies in the third quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of SoFi Technologies in the third quarter worth about $47,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC boosted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays upped their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley lifted their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday. Three equities 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 company’s stock. According to MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $11.04.

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.