Insider Buying: SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Buys 28,775 Shares of Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Anthony Noto purchased 28,775 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the acquisition, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $7.16 on Tuesday. The company has a 50 day moving average of $7.51 and a 200 day moving average of $7.85. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00. The stock has a market cap of $6.99 billion, a P/E ratio of -23.03 and a beta of 1.75. SoFi Technologies, Inc. has a 12 month low of $4.45 and a 12 month high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $580.60 million for the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. The business’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

SOFI has been the topic of several recent analyst reports. Jefferies Financial Group dropped their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Citigroup began coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 price target for the company. Finally, Wedbush reaffirmed an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $9.08.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC increased its position in shares of SoFi Technologies by 22.2% in the first quarter. Empowered Funds LLC now owns 47,854 shares of the company’s stock worth $349,000 after purchasing an additional 8,707 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of SoFi Technologies in the 1st quarter worth $79,000. ORG Partners LLC purchased a new stake in shares of SoFi Technologies during the 1st quarter valued at $27,000. OLD Second National Bank of Aurora lifted its holdings in shares of SoFi Technologies by 5.5% during the 1st quarter. OLD Second National Bank of Aurora now owns 335,755 shares of the company’s stock worth $2,451,000 after acquiring an additional 17,388 shares during the last quarter. Finally, Clarity Capital Partners LLC grew its position in SoFi Technologies by 14.0% in the first quarter. Clarity Capital Partners LLC now owns 386,318 shares of the company’s stock worth $2,820,000 after acquiring an additional 47,324 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.