SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Sells $552,817.72 in Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

SoFi Technologies Price Performance

NASDAQ SOFI traded down $0.09 on Tuesday, hitting $7.83. 47,075,068 shares of the company’s stock were exchanged, compared to its average volume of 45,997,988. The stock has a 50-day moving average of $7.36 and a 200-day moving average of $7.15. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of -25.26, a P/E/G ratio of 1.48 and a beta of 1.70. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $10.49. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The business had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. During the same period in the prior year, the company earned ($0.06) EPS. SoFi Technologies’s revenue for the quarter was up 20.2% on a year-over-year basis. Analysts expect that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on SOFI. Barclays lowered their price objective on 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. Keefe, Bruyette & Woods dropped their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. BTIG Research began coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $9.14.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently made changes to their positions in SOFI. Axxcess Wealth Management LLC acquired a new stake in SoFi Technologies in the first quarter valued at approximately $185,000. Wells Fargo & Company MN grew its position in SoFi Technologies by 20.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock worth $28,398,000 after acquiring an additional 493,707 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in SoFi Technologies by 3.7% in the 2nd quarter. Miracle Mile Advisors LLC now owns 84,350 shares of the company’s stock worth $558,000 after purchasing an additional 3,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in SoFi Technologies by 176.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after purchasing an additional 6,870,610 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at about $38,595,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.