Insider Buying: SoFi Technologies, Inc. (NASDAQ:SOFI) Director Buys 15,000 Shares of Stock

SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) Director Harvey M. Schwartz bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were acquired at an average price of $6.50 per share, for a total transaction of $97,500.00. Following the completion of the purchase, the director now owns 229,852 shares in the company, valued at $1,494,038. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

SOFI traded up $0.09 during trading hours on Tuesday, reaching $7.00. The company’s stock had a trading volume of 1,958,234 shares, compared to its average volume of 55,416,064. SoFi Technologies, Inc. has a fifty-two week low of $4.82 and a fifty-two week high of $24.95. The stock has a market cap of $5.80 billion, a PE ratio of -8.43 and a beta of 0.91. The business’s 50-day moving average is $7.85 and its 200-day moving average is $12.56. The company has a debt-to-equity ratio of 0.94, a current ratio of 5.60 and a quick ratio of 5.60.

SoFi Technologies (NASDAQ:SOFI – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). SoFi Technologies had a negative return on equity of 9.24% and a negative net margin of 36.32%. The firm had revenue of $321.70 million for the quarter, compared to analysts’ expectations of $283.99 million. SoFi Technologies’s quarterly revenue was up 48.9% compared to the same quarter last year. Analysts expect that SoFi Technologies, Inc. will post -0.42 EPS for the current year.

A number of analysts have commented on SOFI shares. Piper Sandler raised SoFi Technologies from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $12.00 to $10.00 in a research report on Monday. Citigroup decreased their price objective on SoFi Technologies from $17.00 to $11.00 in a report on Thursday, May 12th. Wedbush decreased their price objective on SoFi Technologies from $20.00 to $15.00 in a report on Thursday, April 7th. Zacks Investment Research lowered SoFi Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Finally, Credit Suisse Group cut their price objective on SoFi Technologies from $15.50 to $9.50 in a research note on Wednesday, May 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and a consensus target price of $14.04.

A number of large investors have recently added to or reduced their stakes in SOFI. Morgan Stanley acquired a new position in SoFi Technologies during the second quarter worth $23,736,000. Deutsche Bank AG acquired a new stake in shares of SoFi Technologies in the third quarter valued at $2,022,000. PNC Financial Services Group Inc. raised its stake in shares of SoFi Technologies by 17.1% in the third quarter. PNC Financial Services Group Inc. now owns 11,748 shares of the company’s stock valued at $185,000 after acquiring an additional 1,715 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of SoFi Technologies in the third quarter valued at $775,000. Finally, BlackRock Inc. raised its stake in shares of SoFi Technologies by 47,019.8% in the third quarter. BlackRock Inc. now owns 13,624,205 shares of the company’s stock valued at $216,352,000 after acquiring an additional 13,595,291 shares in the last quarter. Institutional investors own 56.45% of the company’s stock.

About SoFi Technologies (Get Rating)

SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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