Jeremy Rishel Sells 66,847 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) Stock

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) CTO Jeremy Rishel sold 66,847 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the sale, the chief technology officer now directly owns 724,321 shares of the company's stock, valued at $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SoFi Technologies Stock Up 3.2%

NASDAQ SOFI traded up $0.49 during trading hours on Tuesday, reaching $15.85. 64,061,099 shares of the company's stock were exchanged, compared to its average volume of 50,509,413. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80. The company has a market capitalization of $17.52 billion, a price-to-earnings ratio of 90.35, a price-to-earnings-growth ratio of 2.66 and a beta of 1.82. The company's 50-day moving average is $13.31 and its two-hundred day moving average is $13.92. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The company's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Truist Financial started coverage on shares of SoFi Technologies in a report on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a report on Wednesday, April 30th. Citizens Jmp began coverage on SoFi Technologies in a report on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective on the stock. UBS Group lifted their target price on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, Stephens started coverage on SoFi Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $20.00 price target on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $14.73.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently bought and sold shares of the company. Berkshire Capital Holdings Inc. lifted its position in shares of SoFi Technologies by 6,208,000.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock worth $9,560,000 after purchasing an additional 620,800 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in SoFi Technologies in the 4th quarter valued at $3,703,000. Midwest Professional Planners LTD. bought a new stake in SoFi Technologies during the 4th quarter worth about $836,000. Oppenheimer & Co. Inc. boosted its stake in shares of SoFi Technologies by 47.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 365,439 shares of the company's stock worth $5,628,000 after buying an additional 118,288 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after acquiring an additional 315,899 shares in 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.

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