Insider Buying: SoFi Technologies, Inc. (NASDAQ:SOFI) EVP Buys 30,600 Shares of Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) EVP Eric Schuppenhauer bought 30,600 shares of the stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the purchase, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

SoFi Technologies Trading Down 1.3 %

NASDAQ:SOFI opened at $16.66 on Wednesday. The company’s 50 day moving average is $13.16 and its 200-day moving average is $9.29. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $17.17. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of 166.60, a P/E/G ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter last year, the firm posted ($0.03) EPS. The business’s quarterly revenue was up 29.8% on a year-over-year basis. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently made changes to their positions in SOFI. Dimensional Fund Advisors LP increased its position in SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after buying an additional 9,482,683 shares during the period. Marshall Wace LLP increased its position in SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after acquiring an additional 3,593,464 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in SoFi Technologies by 403.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after purchasing an additional 2,440,745 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in SoFi Technologies in the 3rd quarter worth $16,014,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

SOFI has been the subject of several research reports. Barclays raised their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Needham & Company LLC lifted their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Mizuho raised their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average target price of $10.50.

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.