SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Sells $867,420.00 in Stock

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

SoFi Technologies Stock Up 1.8 %

SOFI stock traded up $0.23 during trading on Friday, reaching $12.87. 39,978,435 shares of the stock were exchanged, compared to its average volume of 44,431,023. The firm’s 50 day moving average is $14.67 and its 200 day moving average is $12.97. The firm has a market cap of $14.11 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. 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, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period last year, the firm posted $0.04 EPS. As a group, research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in SoFi Technologies by 1.0% in the 3rd quarter. Victory Capital Management Inc. now owns 128,661 shares of the company’s stock valued at $1,011,000 after purchasing an additional 1,319 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of SoFi Technologies by 30.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 24,498 shares of the company’s stock valued at $193,000 after acquiring an additional 5,650 shares during the period. CIBC Asset Management Inc lifted its stake in SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after purchasing an additional 962 shares during the last quarter. Empowered Funds LLC increased its position in SoFi Technologies by 5.0% in the third quarter. Empowered Funds LLC now owns 41,277 shares of the company’s stock worth $324,000 after buying an additional 1,951 shares during the last quarter. Finally, Pathstone Holdings LLC raised its stake in shares of SoFi Technologies by 13.2% in the third quarter. Pathstone Holdings LLC now owns 192,057 shares of the company’s stock valued at $1,510,000 after buying an additional 22,426 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SOFI shares. The Goldman Sachs Group upped their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Morgan Stanley increased their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Finally, Bank of America reiterated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $12.50.

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.