Anthony Noto Acquires 46,500 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) Stock

SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) CEO Anthony Noto acquired 46,500 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The stock was purchased at an average cost of $5.37 per share, for a total transaction of $249,705.00. Following the acquisition, the chief executive officer now owns 3,513,501 shares in the company, valued at $18,867,500.37. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Anthony Noto also recently made the following trade(s):

  • On Wednesday, June 8th, Anthony Noto bought 16,907 shares of SoFi Technologies stock. The stock was purchased at an average price of $6.65 per share, with a total value of $112,431.55.
  • On Monday, June 6th, Anthony Noto purchased 21,750 shares of SoFi Technologies stock. The shares were acquired at an average cost of $6.90 per share, for a total transaction of $150,075.00.
  • On Tuesday, May 24th, Anthony Noto acquired 37,056 shares of SoFi Technologies stock. The stock was acquired at an average cost of $6.72 per share, with a total value of $249,016.32.
  • On Thursday, May 19th, Anthony Noto bought 13,500 shares of SoFi Technologies stock. The shares were acquired at an average cost of $7.79 per share, for a total transaction of $105,165.00.
  • On Wednesday, March 16th, Anthony Noto purchased 17,375 shares of SoFi Technologies stock. The stock was acquired at an average cost of $8.62 per share, with a total value of $149,772.50.

Shares of NASDAQ SOFI traded down $0.33 during mid-day trading on Monday, hitting $5.61. 50,957,481 shares of the company traded hands, compared to its average volume of 58,001,641. The company has a quick ratio of 5.60, a current ratio of 5.60 and a debt-to-equity ratio of 0.94. SoFi Technologies, Inc. has a 1 year low of $4.82 and a 1 year high of $24.65. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of -6.84 and a beta of 0.84. The business has a 50 day moving average of $7.01 and a two-hundred day moving average of $10.65.

SoFi Technologies (NASDAQ:SOFIGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The company had revenue of $321.70 million during the quarter, compared to analyst estimates of $283.99 million. SoFi Technologies had a negative net margin of 36.32% and a negative return on equity of 9.24%. The firm’s quarterly revenue was up 48.9% compared to the same quarter last year. As a group, research analysts anticipate that SoFi Technologies, Inc. will post -0.45 EPS for the current year.

SOFI has been the subject of several research analyst reports. Morgan Stanley downgraded shares of SoFi Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $18.00 to $10.00 in a report on Wednesday, March 16th. Piper Sandler raised shares of SoFi Technologies from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $12.00 to $10.00 in a research note on Monday, May 16th. Moffett Nathanson assumed coverage on shares of SoFi Technologies in a research note on Tuesday, April 5th. They set a “buy” rating and a $13.00 price objective on the stock. Rosenblatt Securities cut their target price on SoFi Technologies from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Finally, Credit Suisse Group decreased their price target on SoFi Technologies from $15.50 to $9.50 in a research note on Wednesday, May 11th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $14.04.

Hedge funds and other institutional investors have recently bought and sold shares of the business. WASHINGTON TRUST Co purchased a new stake in shares of SoFi Technologies in the first quarter valued at $26,000. US Bancorp DE raised its position in SoFi Technologies by 197.0% during the first quarter. US Bancorp DE now owns 3,015 shares of the company’s stock valued at $28,000 after buying an additional 2,000 shares during the period. Herold Advisors Inc. purchased a new stake in SoFi Technologies in the 1st quarter worth about $29,000. SOA Wealth Advisors LLC. boosted its position in SoFi Technologies by 113.3% during the 1st quarter. SOA Wealth Advisors LLC. now owns 3,200 shares of the company’s stock worth $30,000 after acquiring an additional 1,700 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC grew its stake in SoFi Technologies by 119.4% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,975 shares of the company’s stock valued at $31,000 after acquiring an additional 1,075 shares in the last quarter. Hedge funds and other 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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