Anthony Noto Buys 37,056 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) Stock

SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) CEO Anthony Noto purchased 37,056 shares of the company’s stock in a transaction on Tuesday, May 24th. The stock was acquired at an average price of $6.72 per share, for a total transaction of $249,016.32. Following the completion of the transaction, the chief executive officer now owns 3,276,895 shares of the company’s stock, valued at approximately $22,020,734.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Thursday, May 19th, Anthony Noto bought 13,500 shares of SoFi Technologies stock. The stock was acquired at an average price 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 price of $8.62 per share, for a total transaction of $149,772.50.
  • On Monday, March 14th, Anthony Noto acquired 19,042 shares of SoFi Technologies stock. The shares were bought at an average price of $7.85 per share, with a total value of $149,479.70.
  • On Thursday, March 10th, Anthony Noto bought 15,873 shares of SoFi Technologies stock. The stock was bought at an average price of $9.44 per share, for a total transaction of $149,841.12.
  • On Monday, March 7th, Anthony Noto purchased 15,350 shares of SoFi Technologies stock. The stock was bought at an average price of $9.73 per share, with a total value of $149,355.50.
  • On Friday, March 4th, Anthony Noto acquired 15,000 shares of SoFi Technologies stock. The shares were bought at an average price of $9.96 per share, for a total transaction of $149,400.00.

Shares of SoFi Technologies stock traded down $0.55 during midday trading on Tuesday, reaching $6.72. 38,135,265 shares of the company’s stock traded hands, compared to its average volume of 60,709,668. The company has a debt-to-equity ratio of 0.94, a quick ratio of 5.60 and a current ratio of 5.60. SoFi Technologies, Inc. has a 52 week low of $4.82 and a 52 week high of $24.95. The company’s 50 day simple moving average is $7.71 and its 200 day simple moving average is $12.01. The company has a market cap of $5.57 billion, a price-to-earnings ratio of -8.87 and a beta of 0.90.

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

Several research firms have recently weighed in on SOFI. Citigroup dropped their target price on shares of SoFi Technologies from $17.00 to $11.00 in a research report on Thursday, May 12th. Mizuho cut their target price on shares of SoFi Technologies from $14.00 to $9.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Rosenblatt Securities decreased 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. Morgan Stanley lowered SoFi Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $18.00 to $10.00 in a research report on Wednesday, March 16th. Finally, Piper Sandler upgraded SoFi Technologies from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $12.00 to $10.00 in a research report on Monday, May 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average target price of $14.04.

A number of hedge funds have recently made changes to their positions in SOFI. BlackRock Inc. lifted its stake in shares of SoFi Technologies by 63.4% in the fourth quarter. BlackRock Inc. now owns 22,261,616 shares of the company’s stock worth $351,956,000 after buying an additional 8,637,411 shares during the last quarter. Riverwood Capital Management Ltd. acquired a new stake in shares of SoFi Technologies in the first quarter valued at about $207,873,000. DCM International VI Ltd. bought a new position in shares of SoFi Technologies in the fourth quarter worth about $185,092,000. State Street Corp lifted its position in shares of SoFi Technologies by 11.6% during the 1st quarter. State Street Corp now owns 6,618,860 shares of the company’s stock worth $62,548,000 after purchasing an additional 689,824 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in SoFi Technologies by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 6,031,801 shares of the company’s stock valued at $95,207,000 after buying an additional 647,121 shares during the last quarter. Institutional investors own 56.45% of the company’s stock.

SoFi Technologies Company Profile (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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