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

SoFi Technologies, Inc. (NASDAQ:SOFI) shares traded up 0.3% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $7.18 and last traded at $7.18. 8,007,087 shares changed hands during trading, a decline of 85% from the average session volume of 53,758,680 shares. The stock had previously closed at $7.16.

Specifically, CEO Anthony Noto acquired 28,775 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the acquisition, the chief executive officer now 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 accessible through this link. In related news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anthony Noto purchased 28,775 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $6.90 per share, with a total value of $198,547.50. Following the purchase, the chief executive officer now owns 8,033,369 shares in the company, valued at $55,430,246.10. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SOFI. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a report on Tuesday, April 30th. Citigroup started coverage on shares of SoFi Technologies in a report on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped 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. The Goldman Sachs Group upped their price target on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Finally, Wedbush reissued an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average target price of $9.08.

SoFi Technologies Trading Down 1.4 %

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 has a market capitalization of $6.90 billion, a PE ratio of -23.06 and a beta of 1.75. The business’s 50-day moving average is $7.48 and its two-hundred day moving average is $7.84.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly 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 business had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same period in the previous year, the business posted ($0.05) earnings per share. The business’s revenue was up 26.2% compared to the same quarter last year. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in shares of SoFi Technologies during the 4th quarter worth $27,000. Westside Investment Management Inc. increased its position 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 valued at $31,000 after buying 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 $27,000. Tortoise Investment Management LLC purchased a new stake in shares of SoFi Technologies in the 4th quarter worth about $39,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in SoFi Technologies in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.