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

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

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $7.06 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The stock’s fifty day moving average is $7.48 and its two-hundred day moving average is $7.84. The firm has a market capitalization of $6.90 billion, a P/E ratio of -23.06 and a beta of 1.75. SoFi Technologies, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $11.70.

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

Institutional Trading of SoFi Technologies

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in SoFi Technologies by 23.5% in the third quarter. SG Americas Securities LLC now owns 34,436 shares of the company’s stock valued at $275,000 after acquiring an additional 6,548 shares during the last quarter. Simplicity Solutions LLC lifted its stake in shares of SoFi Technologies by 42.1% in the 3rd quarter. Simplicity Solutions LLC now owns 17,385 shares of the company’s stock valued at $139,000 after purchasing an additional 5,147 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of SoFi Technologies by 12.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 1,075,755 shares of the company’s stock worth $8,595,000 after purchasing an additional 123,289 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of SoFi Technologies by 102.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock worth $3,962,000 after purchasing an additional 250,854 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in SoFi Technologies by 79.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 74,339 shares of the company’s stock valued at $594,000 after buying an additional 32,861 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered 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. Wedbush reiterated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. Morgan Stanley reissued an “underweight” rating and issued a $6.50 price target (down previously from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $6.50 to $7.50 in a report on Friday, April 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $9.08.

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.