Jeremy Rishel Sells 68,625 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

SoFi Technologies Price Performance

NASDAQ:SOFI traded up $0.23 during mid-day trading on Friday, reaching $12.87. The stock had a trading volume of 39,978,435 shares, compared to its average volume of 44,431,023. The stock has a market capitalization of $14.11 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.24 and a beta of 1.79. The firm has a 50 day moving average price of $14.67 and a two-hundred day moving average price of $12.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period last year, the business posted $0.04 earnings per share. As a group, analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in shares of SoFi Technologies in the 4th quarter valued at about $3,703,000. Hanseatic Management Services Inc. bought a new stake in SoFi Technologies in the fourth quarter valued at approximately $1,116,000. Berkshire Capital Holdings Inc. lifted its position in 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 valued at $9,560,000 after purchasing an additional 620,800 shares during the last quarter. Kercheville Advisors LLC purchased a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $1,594,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after purchasing an additional 87,097 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SOFI has been the subject of a number of recent research reports. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Needham & Company LLC lifted their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. raised their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, Citigroup upped their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $12.50.

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.