Procore signs multi-year strategic collaboration agreement with AWS
SAN FRANCISCO—Jeremy Rishel, the Chief Technology Officer of SoFi Technologies, Inc. (NASDAQ:SOFI), recently sold a significant portion of his holdings in the company. The sale comes as SOFI shares have shown significant volatility, with a 73% gain over the past year but a notable decline in recent months. According to InvestingPro analysis, the stock is currently trading above its Fair Value. According to a Form 4 filing with the Securities and Exchange Commission, Rishel sold 68,625 shares of common stock on March 20, 2025, at a price of $12.64 per share. The total value of the transaction amounted to $867,420. The sale occurred as SoFi maintains strong fundamentals with an 83% gross profit margin and robust revenue growth of 28% in the last twelve months.
Following this sale, Rishel retains ownership of 655,118 shares in SoFi Technologies. The transaction was conducted under a Rule 10b5-1 Trading Plan that was adopted by Rishel on May 23, 2024, allowing for pre-scheduled sales of company stock. Get deeper insights into SOFI’s valuation metrics and 10+ additional exclusive tips with an InvestingPro subscription, including access to comprehensive Pro Research Reports covering 1,400+ top stocks.
In other recent news, SoFi Technologies reported its fourth-quarter earnings for 2024, surpassing analysts’ expectations. The company achieved an earnings per share of $0.05, exceeding the forecasted $0.04, and delivered revenue of $734.13 million, which was higher than the anticipated $669.17 million. SoFi also celebrated its first full year of GAAP profitability, with a significant increase in its member base, now surpassing 10 million. Meanwhile, BTIG maintained a Neutral rating on SoFi following the company’s announcement of a new co-brand card venture with a major hotel chain. This move is seen as a potential disruptor to industry players such as American Express (NYSE:AXP) and Affirm. However, BofA Securities continues to rate SoFi as Underperform, keeping a price target of $13.00, citing a reduced growth outlook for SoFi’s technology segment. Despite these mixed ratings, SoFi remains focused on its strategic initiatives and growth opportunities. These recent developments highlight the dynamic landscape surrounding SoFi Technologies.
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