SoFi Technologies (NASDAQ:SOFI) CTO Sells $1,815,746.94 in Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total value of $1,815,746.94. Following the sale, the chief technology officer directly owned 895,089 shares in the company, valued at $15,914,682.42. This trade represents a 10.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SoFi Technologies Stock Performance

SOFI opened at $17.91 on Friday. The firm has a market cap of $22.97 billion, a price-to-earnings ratio of 40.71 and a beta of 2.14. The company has a current ratio of 0.75, a quick ratio of 0.13 and a debt-to-equity ratio of 0.17. SoFi Technologies, Inc. has a 12 month low of $14.64 and a 12 month high of $32.73. The stock has a fifty day moving average price of $16.96 and a 200-day moving average price of $20.49.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business posted $0.06 EPS. The firm’s quarterly revenue was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SOFI shares. Wells Fargo & Company lowered their price target on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Needham & Company LLC reduced their price objective on shares of SoFi Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Argus assumed coverage on shares of SoFi Technologies in a research report on Wednesday, April 15th. They set a “hold” rating for the company. Weiss Ratings lowered shares of SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Finally, TD Cowen reduced their price target on SoFi Technologies from $24.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $22.56.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the company. Lake Street Private Wealth LLC lifted its position in shares of SoFi Technologies by 4.9% in the fourth quarter. Lake Street Private Wealth LLC now owns 8,368 shares of the company’s stock valued at $219,000 after acquiring an additional 390 shares in the last quarter. Capital Advisors Wealth Management LLC increased its position in shares of SoFi Technologies by 0.4% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 109,483 shares of the company’s stock worth $2,866,000 after purchasing an additional 401 shares in the last quarter. First Horizon Corp increased its position in shares of SoFi Technologies by 14.9% during the fourth quarter. First Horizon Corp now owns 3,116 shares of the company’s stock worth $82,000 after purchasing an additional 405 shares in the last quarter. Cigna Investments Inc. New raised its stake in SoFi Technologies by 3.8% in the 4th quarter. Cigna Investments Inc. New now owns 11,440 shares of the company’s stock valued at $299,000 after purchasing an additional 416 shares during the last quarter. Finally, Assetmark Inc. raised its stake in SoFi Technologies by 50.5% in the 3rd quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock valued at $34,000 after purchasing an additional 427 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.