Jeremy Rishel Sells 68,625 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock opened at $12.87 on Friday. The firm has a market cap of $14.11 billion, a PE ratio of 34.78, a PEG ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The stock has a 50 day moving average of $14.67 and a 200 day moving average of $13.01. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the business earned $0.04 EPS. On average, research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America reissued an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Citigroup increased their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Morgan Stanley lifted their price objective on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $12.50.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Berkshire Capital Holdings Inc. lifted its position in SoFi Technologies by 6,208,000.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company’s stock worth $9,560,000 after acquiring an additional 620,800 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of SoFi Technologies in the 4th quarter valued at about $3,703,000. Hanseatic Management Services Inc. acquired a new position in shares of SoFi Technologies in the 4th quarter valued at about $1,116,000. Kercheville Advisors LLC acquired a new position in shares of SoFi Technologies in the 4th quarter valued at about $1,594,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after buying an additional 87,097 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.