Insider Buying: SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Buys 28,900 Shares of Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Anthony Noto acquired 28,900 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $6.92 per share, with a total value of $199,988.00. Following the purchase, the chief executive officer now directly owns 8,062,269 shares in the company, valued at $55,790,901.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, May 3rd, Anthony Noto bought 28,775 shares of SoFi Technologies stock. The shares were bought at an average price of $6.90 per share, with a total value of $198,547.50.

SoFi Technologies Stock Down 2.8 %

Shares of NASDAQ:SOFI traded down $0.20 during midday trading on Thursday, hitting $6.82. 41,397,735 shares of the company’s stock were exchanged, compared to its average volume of 51,800,559. SoFi Technologies, Inc. has a 12 month low of $5.09 and a 12 month high of $11.70. The company has a market cap of $7.21 billion, a PE ratio of -22.19, a price-to-earnings-growth ratio of 1.65 and a beta of 1.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The stock has a 50 day moving average price of $7.26 and a 200-day moving average price of $7.82.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) earnings per share. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in shares of SoFi Technologies during the 4th quarter valued at $27,000. Westside Investment Management Inc. grew its stake 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 purchasing an additional 1,500 shares during the last quarter. ORG Partners LLC bought a new position in SoFi Technologies during the 1st quarter valued at approximately $27,000. Tortoise Investment Management LLC purchased a new stake in SoFi Technologies in the 4th quarter worth approximately $39,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SOFI. Deutsche Bank Aktiengesellschaft lowered their price target on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, April 30th. Wedbush reaffirmed an “underperform” rating and set a $3.00 price target on shares of SoFi Technologies in a report on Tuesday, April 30th. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price 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 upped their target price for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Finally, Citigroup started coverage on SoFi Technologies in a report on Monday, April 8th. They issued a “buy” rating and a $11.00 target price for the company. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.08.

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.