Insider Buying: SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Acquires $199,033.20 in Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Anthony Noto bought 30,715 shares of the stock in a transaction on Friday, June 14th. The shares were bought at an average price of $6.48 per share, for a total transaction of $199,033.20. Following the acquisition, the chief executive officer now owns 8,121,844 shares in the company, valued at approximately $52,629,549.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, May 23rd, Anthony Noto acquired 28,900 shares of SoFi Technologies stock. The stock was bought at an average price of $6.92 per share, for a total transaction of $199,988.00.
• On Friday, May 3rd, Anthony Noto bought 28,775 shares of SoFi Technologies stock. The stock was purchased at an average cost of $6.90 per share, with a total value of $198,547.50.

SoFi Technologies Stock Down 5.0 %

Shares of SoFi Technologies stock opened at $6.46 on Monday. The company has a fifty day moving average price of $7.13 and a 200 day moving average price of $7.80. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. SoFi Technologies, Inc. has a twelve month low of $6.41 and a twelve month high of $11.70. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of -20.84, a price-to-earnings-growth ratio of 1.50 and a beta of 1.72.

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, beating analysts’ consensus estimates of $0.01 by $0.01. The business 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 1.10% and a negative net margin of 8.21%. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) earnings per share. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in SoFi Technologies during the 4th quarter worth $27,000. ORG Partners LLC purchased a new stake in shares of SoFi Technologies during the first quarter worth about $27,000. Westside Investment Management Inc. lifted 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 acquiring an additional 1,500 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in SoFi Technologies by 61.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after purchasing an additional 1,713 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in SoFi Technologies during the 1st quarter worth approximately $37,000. 38.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SOFI shares. Jefferies Financial Group lowered their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $6.50 to $7.50 in a report on Friday, April 5th. Wedbush restated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a report on Tuesday, April 30th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, BTIG Research began coverage on SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.