Insider Buying: SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Purchases 16,907 Shares of Stock

SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) CEO Anthony Noto bought 16,907 shares of the company’s stock in a transaction on Wednesday, June 8th. The stock was purchased at an average cost of $6.65 per share, with a total value of $112,431.55. Following the completion of the transaction, the chief executive officer now owns 3,385,921 shares in the company, valued at $22,516,374.65. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

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

  • On Monday, June 6th, Anthony Noto bought 21,750 shares of SoFi Technologies stock. The stock was purchased at an average cost of $6.90 per share, with a total value of $150,075.00.
  • On Tuesday, May 24th, Anthony Noto bought 37,056 shares of SoFi Technologies stock. The stock was purchased at an average cost of $6.72 per share, with a total value of $249,016.32.
  • On Thursday, May 19th, Anthony Noto bought 13,500 shares of SoFi Technologies stock. The stock was purchased at an average cost of $7.79 per share, with a total value of $105,165.00.
  • On Wednesday, March 16th, Anthony Noto bought 17,375 shares of SoFi Technologies stock. The stock was purchased at an average cost of $8.62 per share, with a total value of $149,772.50.
  • On Monday, March 14th, Anthony Noto bought 19,042 shares of SoFi Technologies stock. The stock was purchased at an average cost of $7.85 per share, with a total value of $149,479.70.
  • On Thursday, March 10th, Anthony Noto acquired 15,873 shares of SoFi Technologies stock. The shares were bought at an average cost of $9.44 per share, with a total value of $149,841.12.

NASDAQ SOFI traded down $0.20 on Wednesday, reaching $6.66. The stock had a trading volume of 30,391,115 shares, compared to its average volume of 58,459,605. The company has a debt-to-equity ratio of 0.94, a quick ratio of 5.60 and a current ratio of 5.60. SoFi Technologies, Inc. has a 12-month low of $4.82 and a 12-month high of $24.65. The business’s 50-day moving average price is $7.20 and its 200 day moving average price is $10.96. The stock has a market cap of $6.10 billion, a P/E ratio of -8.37 and a beta of 0.84.

SoFi Technologies (NASDAQ:SOFIGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). SoFi Technologies had a negative return on equity of 9.24% and a negative net margin of 36.32%. The company had revenue of $321.70 million during the quarter, compared to analysts’ expectations of $283.99 million. The company’s quarterly revenue was up 48.9% on a year-over-year basis. On average, sell-side analysts predict that SoFi Technologies, Inc. will post -0.45 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC lifted its stake in SoFi Technologies by 119.4% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,975 shares of the company’s stock valued at $31,000 after buying an additional 1,075 shares during the last quarter. Amplius Wealth Advisors LLC purchased a new stake in SoFi Technologies in the fourth quarter valued at approximately $31,000. TimeScale Financial Inc. raised its stake in shares of SoFi Technologies by 81.5% during the fourth quarter. TimeScale Financial Inc. now owns 2,319 shares of the company’s stock worth $37,000 after purchasing an additional 1,041 shares during the last quarter. AdvisorNet Financial Inc raised its stake in shares of SoFi Technologies by 163.3% during the fourth quarter. AdvisorNet Financial Inc now owns 2,370 shares of the company’s stock worth $37,000 after purchasing an additional 1,470 shares during the last quarter. Finally, WASHINGTON TRUST Co purchased a new stake in shares of SoFi Technologies during the first quarter worth approximately $26,000. Institutional investors own 56.45% of the company’s stock.

A number of equities analysts have recently commented on the company. Wedbush lowered their price objective on SoFi Technologies from $20.00 to $15.00 in a research report on Thursday, April 7th. Credit Suisse Group lowered their price objective on SoFi Technologies from $15.50 to $9.50 in a research report on Wednesday, May 11th. Zacks Investment Research raised SoFi Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday. Citigroup lowered their price objective on SoFi Technologies from $17.00 to $11.00 in a research report on Thursday, May 12th. Finally, Rosenblatt Securities lowered their price objective on SoFi Technologies from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $14.04.

About SoFi Technologies (Get Rating)

SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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