SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Sells $1,021,658.52 in Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now directly owns 586,494 shares in the company, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SoFi Technologies Trading Up 2.1 %

NASDAQ SOFI traded up $0.32 on Friday, hitting $15.35. The company’s stock had a trading volume of 52,164,066 shares, compared to its average volume of 47,762,789. The company’s 50-day moving average is $13.55 and its 200 day moving average is $9.43. The firm has a market cap of $16.66 billion, a PE ratio of 153.52, a PEG ratio of 2.65 and a beta of 1.77. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $17.19. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) earnings per share. As a group, analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the stock. World Investment Advisors LLC raised its stake in SoFi Technologies by 6.5% during the third quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock worth $171,000 after buying an additional 1,336 shares during the last quarter. Virtu Financial LLC acquired a new stake in SoFi Technologies during the 3rd quarter worth about $1,649,000. Coldstream Capital Management Inc. bought a new position in shares of SoFi Technologies in the 3rd quarter worth about $93,000. Geode Capital Management LLC lifted its stake in shares of SoFi Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock valued at $138,523,000 after purchasing an additional 358,806 shares during the period. Finally, M&T Bank Corp boosted its position in shares of SoFi Technologies by 5.4% during the 3rd quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock valued at $359,000 after purchasing an additional 2,332 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SOFI. Morgan Stanley lifted their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. increased their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC upped their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.04.

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.