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 stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value 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. The trade was a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $15.35 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $17.19. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 153.52, a PEG ratio of 2.65 and a beta of 1.77. The stock’s fifty day moving average price is $13.55 and its 200 day moving average price is $9.43.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the prior year, the business posted ($0.03) earnings per share. SoFi Technologies’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SOFI. Barclays raised their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted 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. Mizuho lifted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group upped their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.04.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies in the 3rd quarter valued at approximately $27,000. Brooklyn Investment Group acquired a new stake in SoFi Technologies in the 3rd quarter valued at about $28,000. Allspring Global Investments Holdings LLC lifted its stake in SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of SoFi Technologies during the 3rd quarter worth about $47,000. 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.