SoFi Technologies (NASDAQ:SOFI) CTO Jeremy Rishel Sells 91,837 Shares

Key Points

• SoFi CTO Jeremy Rishel sold 91,837 shares on Dec. 17 at an average of $26.64 for about $2.45 million, reducing his stake by 10.36% to 794,598 shares valued at roughly $21.17 million.
• Quarterly results beat expectations: SoFi reported Q3 EPS of $0.11 vs. $0.09 expected and revenue of $949.6M (up 37.7% year-over-year), and issued FY2025 EPS guidance of $0.37.
• The stock trades near $27.35 with a market cap of about $33B and a P/E of ~50.6, while analysts' consensus rating is a "Hold" with an average price target of $25.69.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) CTO Jeremy Rishel sold 91,837 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $26.64, for a total transaction of $2,446,537.68. Following the transaction, the chief technology officer directly owned 794,598 shares of the company's stock, valued at $21,168,090.72. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI traded up $0.11 during mid-day trading on Monday, reaching $27.35. The company had a trading volume of 35,780,946 shares, compared to its average volume of 63,920,066. SoFi Technologies, Inc. has a one year low of $8.60 and a one year high of $32.73. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The company's 50-day moving average price is $28.18 and its 200-day moving average price is $24.37. The firm has a market cap of $32.98 billion, a price-to-earnings ratio of 50.65 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $949.63 million for the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The business's revenue was up 37.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

SOFI has been the topic of several research reports. Weiss Ratings restated a "hold (c)" rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. Morgan Stanley boosted their target price on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an "underweight" rating in a report on Monday, September 29th. The Goldman Sachs Group raised their price target on SoFi Technologies from $24.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, October 29th. Mizuho set a $38.00 price objective on SoFi Technologies in a research note on Thursday, October 30th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $35.00 target price on shares of SoFi Technologies in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $25.69.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of SoFi Technologies by 12.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,879,959 shares of the company's stock valued at $88,864,000 after purchasing an additional 540,610 shares in the last quarter. Sullivan Wood Capital Management LLC bought a new stake in SoFi Technologies in the second quarter worth $2,799,000. Blair William & Co. IL boosted its position in SoFi Technologies by 443.9% during the second quarter. Blair William & Co. IL now owns 335,698 shares of the company's stock valued at $6,113,000 after buying an additional 273,972 shares during the period. Vestmark Advisory Solutions Inc. purchased a new stake in SoFi Technologies during the second quarter valued at about $209,000. Finally, Quantbot Technologies LP bought a new position in shares of SoFi Technologies during the second quarter valued at about $25,699,000. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Company Profile

SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.