SoFi Technologies (NASDAQ:SOFI) Shares Down 0.5% Following Insider Selling

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded down 0.5% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $7.77 and last traded at $7.79. 4,922,620 shares traded hands during trading, a decline of 89% from the average session volume of 45,776,781 shares. The stock had previously closed at $7.83.

Specifically, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SOFI shares. BTIG Research assumed coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating for the company. Keefe, Bruyette & Woods dropped their price target on 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. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Finally, Barclays reduced their price target on shares of 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average target price of $9.14.

SoFi Technologies Trading Down 0.6 %

The business’s 50-day moving average price is $7.36 and its 200 day moving average price is $7.15. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of -25.13, a PEG ratio of 1.60 and a beta of 1.70. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) EPS. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of SoFi Technologies

Several hedge funds have recently made changes to their positions in SOFI. Vanguard Group Inc. grew its stake in SoFi Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock worth $604,632,000 after buying an additional 1,366,271 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of SoFi Technologies by 263.3% in the 2nd 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 period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in SoFi Technologies by 6.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock valued at $75,737,000 after purchasing an additional 690,638 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in SoFi Technologies by 176.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after purchasing an additional 6,870,610 shares during the period. Finally, Marshall Wace LLP grew its position in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares during the last quarter. Institutional investors 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.