SoFi Technologies (NASDAQ:SOFI) CTO Sells $2,446,537.68 in Stock

by · The Markets Daily

SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) CTO Jeremy Rishel sold 91,837 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $26.64, for a total value of $2,446,537.68. Following the transaction, the chief technology officer owned 794,598 shares in the company, valued at approximately $21,168,090.72. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

SoFi Technologies Trading Up 0.4%

SOFI stock traded up $0.11 during midday trading on Monday, hitting $27.35. The company had a trading volume of 35,780,946 shares, compared to its average volume of 63,920,066. The stock has a market cap of $32.98 billion, a price-to-earnings ratio of 50.65 and a beta of 1.93. SoFi Technologies, Inc. has a 52 week low of $8.60 and a 52 week 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 stock’s 50 day moving average price is $28.18 and its 200 day moving average price is $24.37.

SoFi Technologies (NASDAQ:SOFI – Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $949.63 million for the quarter, compared to the consensus estimate of $880.33 million. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same period in the previous year, the firm earned $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 expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in SoFi Technologies by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock worth $2,829,640,000 after purchasing an additional 6,814,727 shares in the last quarter. State Street Corp raised its holdings in SoFi Technologies by 30.7% in the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock worth $642,019,000 after buying an additional 5,708,053 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of SoFi Technologies by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 9,792,807 shares of the company’s stock worth $258,821,000 after buying an additional 67,504 shares in the last quarter. Norges Bank purchased a new stake in shares of SoFi Technologies during the second quarter valued at approximately $164,068,000. Finally, Marshall Wace LLP increased its position in shares of SoFi Technologies by 88.2% during the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock valued at $145,628,000 after acquiring an additional 3,748,817 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SOFI. Needham & Company LLC increased their target price on shares of SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. UBS Group increased their price objective on SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. Jefferies Financial Group restated a “buy” rating and set a $35.00 target price on shares of SoFi Technologies in a report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.69.

Get Our Latest Analysis on SoFi Technologies

SoFi Technologies Company Profile

(Get Free Report)

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.

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