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 the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

SoFi Technologies Trading Up 0.4 %

SoFi Technologies stock opened at $7.76 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $7.36 and a two-hundred day moving average price of $7.16. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of -25.03, a PEG ratio of 1.60 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.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $598.60 million during 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%. SoFi Technologies’s revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) EPS. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BTIG Research assumed coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods lowered 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 report on Tuesday, July 9th. Finally, Barclays lowered their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $9.14.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in shares of SoFi Technologies in the 2nd quarter worth approximately $731,000. EP Wealth Advisors LLC lifted its stake in shares of SoFi Technologies by 1.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 382,844 shares of the company’s stock worth $2,531,000 after acquiring an additional 6,122 shares during the period. Quarry LP acquired a new stake in shares of SoFi Technologies in the 2nd quarter worth approximately $84,000. Second Line Capital LLC lifted its stake in shares of SoFi Technologies by 1.3% in the 2nd quarter. Second Line Capital LLC now owns 244,446 shares of the company’s stock worth $1,616,000 after acquiring an additional 3,200 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of SoFi Technologies by 64.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after acquiring an additional 115,316 shares during the period. 38.43% of the stock is 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.