SoFi Technologies (NASDAQ:SOFI) CTO Sells $2,715,157.50 in Stock

Key Points

• Jeremy Rishel, CTO of SoFi Technologies, sold 98,733 shares of the company's stock for approximately $2.7 million, reducing his ownership by 11.50% to 759,553 shares.
• SoFi's stock recently traded at $29.51, significantly higher than its one-year low of $7.57, reflecting a strong market cap of $35.34 billion.
• Following its last earnings report, SoFi Technologies beat analysts' expectations with $0.08 earnings per share but reported revenues that fell short of estimates, reaching $519.37 million.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the transaction, the chief technology officer owned 759,553 shares in the company, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

SoFi Technologies Stock Up 5.0%

SOFI traded up $1.40 during midday trading on Friday, hitting $29.51. The company had a trading volume of 74,500,619 shares, compared to its average volume of 65,319,672. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The stock's 50 day moving average price is $23.82 and its 200 day moving average price is $17.12. The company has a market capitalization of $35.34 billion, a price-to-earnings ratio of 61.48, a PEG ratio of 3.51 and a beta of 1.93. SoFi Technologies, Inc. has a 52 week low of $7.57 and a 52 week high of $29.63.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The business had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm's quarterly revenue was up 42.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of SoFi Technologies in a research report on Monday, July 14th. They issued a "neutral" rating and a $19.00 target price for the company. Stephens assumed coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $20.00 target price for the company. Rothschild & Co Redburn assumed coverage on shares of SoFi Technologies in a research report on Friday, August 1st. They issued a "neutral" rating and a $20.50 price target for the company. Morgan Stanley restated an "underweight" rating and set a $13.00 target price (up previously from $11.00) on shares of SoFi Technologies in a research report on Wednesday, July 30th. Finally, Mizuho upped their price target on shares of SoFi Technologies from $26.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $19.88.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hazlett Burt & Watson Inc. raised its position in shares of SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after purchasing an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of SoFi Technologies in the 1st quarter valued at approximately $28,000. SVB Wealth LLC acquired a new stake in shares of SoFi Technologies during the 1st quarter valued at approximately $28,000. TD Private Client Wealth LLC raised its position in shares of SoFi Technologies by 153.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 2,562 shares of the company's stock valued at $47,000 after acquiring an additional 1,553 shares in the last quarter. Finally, Garde Capital Inc. acquired a new stake in shares of SoFi Technologies during the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 38.43% of the company's stock.

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.