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 company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares of the company’s stock, 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 Trading Up 1.8 %

SOFI opened at $12.87 on Friday. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $14.67 and a 200-day moving average of $12.97. The stock has a market cap of $14.11 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data 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 net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the firm earned $0.04 earnings per share. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on SOFI. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Finally, Needham & Company LLC increased their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.50.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently modified their holdings of SOFI. Skandinaviska Enskilda Banken AB publ acquired a new stake in SoFi Technologies in the fourth quarter worth $27,000. Brooklyn Investment Group acquired a new stake in SoFi Technologies in the third quarter worth $28,000. Hollencrest Capital Management acquired a new stake in SoFi Technologies in the fourth quarter worth $31,000. Mpwm Advisory Solutions LLC acquired a new stake in SoFi Technologies in the fourth quarter worth $32,000. Finally, FNY Investment Advisers LLC grew its holdings in SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after purchasing an additional 1,905 shares during the period. 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.