SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Anthony Noto Purchases 28,775 Shares of Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Anthony Noto bought 28,775 shares of SoFi Technologies stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the purchase, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $7.16 on Tuesday. 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 50 day moving average of $7.51 and a 200-day moving average of $7.85. SoFi Technologies, Inc. has a 12 month low of $4.45 and a 12 month high of $11.70. The company has a market capitalization of $6.99 billion, a P/E ratio of -23.03 and a beta of 1.75.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, April 30th. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $6.50 to $7.50 in a report on Friday, April 5th. Mizuho decreased their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Wedbush reiterated an “underperform” rating and issued a $3.00 price target on shares of SoFi Technologies in a research report on Tuesday, April 30th. Finally, Jefferies Financial Group lowered their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Three equities research 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 a consensus rating of “Hold” and an average price target of $9.08.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors have recently made changes to their positions in SOFI. SG Americas Securities LLC lifted its holdings in SoFi Technologies by 23.5% during the 3rd quarter. SG Americas Securities LLC now owns 34,436 shares of the company’s stock worth $275,000 after purchasing an additional 6,548 shares during the last quarter. Simplicity Solutions LLC boosted its position in shares of SoFi Technologies by 42.1% in the third quarter. Simplicity Solutions LLC now owns 17,385 shares of the company’s stock valued at $139,000 after acquiring an additional 5,147 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of SoFi Technologies by 12.9% in the third quarter. Commonwealth Equity Services LLC now owns 1,075,755 shares of the company’s stock valued at $8,595,000 after acquiring an additional 123,289 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in SoFi Technologies by 102.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock worth $3,962,000 after acquiring an additional 250,854 shares during the period. Finally, Stratos Wealth Partners LTD. raised its stake in SoFi Technologies by 79.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 74,339 shares of the company’s stock worth $594,000 after purchasing an additional 32,861 shares in the last quarter. 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.