SoFi Technologies (NASDAQ:SOFI) Shares Up 0.3% After Insider Buying Activity

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price rose 0.3% during mid-day trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $7.18 and last traded at $7.18. Approximately 8,007,087 shares traded hands during trading, a decline of 85% from the average daily volume of 53,758,680 shares. The stock had previously closed at $7.16.

Specifically, CEO Anthony Noto purchased 28,775 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $6.90 per share, with a total value of $198,547.50. Following the purchase, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Anthony Noto acquired 28,775 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SOFI has been the subject of a number of research reports. 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. Mizuho cut their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their target price for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Finally, Citigroup began coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective on the stock. Three investment 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $9.08.

SoFi Technologies Trading Down 0.1 %

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 firm has a market capitalization of $6.89 billion, a P/E ratio of -22.81 and a beta of 1.75. The business has a 50 day moving average of $7.44 and a 200-day moving average of $7.84.

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

Institutional Trading of SoFi Technologies

A number of institutional investors have recently modified their holdings of SOFI. Vanguard Group Inc. lifted its stake in SoFi Technologies by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock valued at $610,458,000 after acquiring an additional 2,567,797 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its holdings in SoFi Technologies by 18.0% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 390,098 shares of the company’s stock worth $3,117,000 after purchasing an additional 59,412 shares during the last quarter. Hartline Investment Corp grew its position in SoFi Technologies by 3.4% in the third quarter. Hartline Investment Corp now owns 865,756 shares of the company’s stock valued at $6,917,000 after purchasing an additional 28,115 shares in the last quarter. Victory Capital Management Inc. increased its stake in SoFi Technologies by 15.3% in the 3rd quarter. Victory Capital Management Inc. now owns 96,052 shares of the company’s stock valued at $767,000 after buying an additional 12,741 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in SoFi Technologies by 6.9% during the 3rd quarter. Harbour Investments Inc. now owns 57,640 shares of the company’s stock worth $461,000 after buying an additional 3,727 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.