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

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) CTO Jeremy Rishel sold 68,625 shares of the company's stock in a transaction 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 transaction, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI traded down $0.18 during midday trading on Tuesday, hitting $13.54. The stock had a trading volume of 35,601,110 shares, compared to its average volume of 44,572,179. The company's 50-day moving average price is $14.66 and its 200-day moving average price is $13.10. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $14.85 billion, a P/E ratio of 36.59, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned $0.04 earnings per share. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

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Analysts Set New Price Targets

SOFI has been the topic of several research analyst reports. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Morgan Stanley upped their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research report on Thursday, December 19th. The Goldman Sachs Group lifted their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, Citigroup increased their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and an average target price of $12.50.

Institutional Trading of SoFi Technologies

Several large investors have recently bought and sold shares of SOFI. Vanguard Group Inc. lifted its holdings in shares of SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares during the last quarter. Two Sigma Advisers LP acquired a new position in SoFi Technologies during the 4th quarter worth approximately $299,980,000. State Street Corp lifted its stake in SoFi Technologies by 1.7% in the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company's stock valued at $141,974,000 after purchasing an additional 310,532 shares during the last quarter. Geode Capital Management LLC boosted its position in SoFi Technologies by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after buying an additional 315,899 shares in the last quarter. Finally, Norges Bank acquired a new stake in SoFi Technologies in the fourth quarter valued at approximately $103,678,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.