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

SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Jeremy Rishel sold 91,837 shares of the business’s stock in a transaction 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 owned 794,598 shares in the company, valued at $21,168,090.72. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

SoFi Technologies Trading Up 0.8%

NASDAQ:SOFI opened at $27.40 on Thursday. SoFi Technologies, Inc. has a 12 month low of $8.60 and a 12 month 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 has a market capitalization of $33.04 billion, a price-to-earnings ratio of 50.73 and a beta of 1.93. The firm has a fifty day simple moving average of $28.16 and a two-hundred day simple moving average of $24.58.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $949.63 million for the quarter, compared to analysts’ expectations of $880.33 million. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The business’s revenue was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Xcel Wealth Management LLC increased its stake in SoFi Technologies by 0.6% in the 3rd quarter. Xcel Wealth Management LLC now owns 70,932 shares of the company’s stock valued at $1,874,000 after buying an additional 392 shares during the last quarter. Key Client Fiduciary Advisors LLC grew its holdings in shares of SoFi Technologies by 3.1% in the third quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company’s stock valued at $373,000 after acquiring an additional 419 shares in the last quarter. Assetmark Inc. increased its position in shares of SoFi Technologies by 50.5% during the third quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock valued at $34,000 after acquiring an additional 427 shares during the last quarter. Cigna Investments Inc. New lifted its holdings in SoFi Technologies by 4.2% during the third quarter. Cigna Investments Inc. New now owns 11,024 shares of the company’s stock worth $291,000 after acquiring an additional 446 shares during the period. Finally, Blume Capital Management Inc. boosted its position in SoFi Technologies by 52.9% in the third quarter. Blume Capital Management Inc. now owns 1,300 shares of the company’s stock worth $34,000 after purchasing an additional 450 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SOFI. Keefe, Bruyette & Woods upped their target price on SoFi Technologies from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 29th. Needham & Company LLC upped their price objective 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. Truist Financial reduced their price objective on shares of SoFi Technologies from $31.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday, November 25th. Morgan Stanley boosted their target price on shares of SoFi Technologies from $13.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.69.

About SoFi Technologies

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.