SoFi Technologies (NASDAQ:SOFI) Trading 0.3% Higher After Insider Buying Activity

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 0.3% on Tuesday following insider buying activity. The stock traded as high as $7.18 and last traded at $7.18. 8,007,087 shares were traded during mid-day trading, a decline of 85% from the average session volume of 53,758,680 shares. The stock had previously closed at $7.16.

Specifically, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Anthony Noto bought 28,775 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the transaction, the chief executive officer now directly owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SOFI shares. Morgan Stanley restated an “underweight” rating and set a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Jefferies Financial Group cut their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Citigroup began coverage on shares of SoFi Technologies in a report on Monday, April 8th. They set a “buy” rating and a $11.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group increased their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.08.

SoFi Technologies Stock Down 1.4 %

The business has a fifty day moving average of $7.48 and a 200 day moving average of $7.84. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The firm has a market cap of $6.90 billion, a P/E ratio of -23.06 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. The company had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. During the same period in the prior year, the business posted ($0.05) EPS. SoFi Technologies’s revenue was up 26.2% on a year-over-year basis. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in shares of SoFi Technologies in the 4th quarter valued at $27,000. ORG Partners LLC acquired a new position in SoFi Technologies in the first quarter valued at about $27,000. Westside Investment Management Inc. increased its holdings in shares of SoFi Technologies by 93.8% in the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after acquiring an additional 1,500 shares in the last quarter. SOA Wealth Advisors LLC. increased its holdings in shares of SoFi Technologies by 61.2% in the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after acquiring an additional 1,713 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of SoFi Technologies during the first quarter worth about $37,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

About SoFi Technologies

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.