Insider Buying: SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Purchases $198,547.50 in Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Anthony Noto acquired 28,775 shares of SoFi Technologies stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $6.90 per share, with a total value of $198,547.50. Following the completion of the purchase, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at $55,430,246.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

SoFi Technologies Stock Down 0.1 %

SOFI stock opened at $7.05 on Thursday. SoFi Technologies, Inc. has a 52 week low of $4.45 and a 52 week high of $11.70. 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 50-day simple moving average of $7.40 and a 200-day simple moving average of $7.84. The stock has a market capitalization of $6.89 billion, a P/E ratio of -22.74 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last posted 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 company had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. SoFi Technologies’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) EPS. Equities analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SOFI. Morgan Stanley reissued 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. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. Jefferies Financial Group cut their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. The Goldman Sachs Group boosted their price objective on SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average price target of $9.08.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. GAMMA Investing LLC purchased a new position in shares of SoFi Technologies in the fourth quarter worth about $27,000. Westside Investment Management Inc. lifted its stake in SoFi Technologies by 93.8% in the 4th 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 in the last quarter. ORG Partners LLC acquired a new position in shares of SoFi Technologies during the 1st quarter worth approximately $27,000. Tortoise Investment Management LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $39,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in SoFi Technologies during the fourth quarter worth approximately $40,000. 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.