SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Purchases $198,547.50 in Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Anthony Noto acquired 28,775 shares of the company’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 directly owns 8,033,369 shares of the company’s stock, valued at $55,430,246.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

SoFi Technologies Price Performance

Shares of SOFI opened at $6.96 on Monday. SoFi Technologies, Inc. has a twelve month low of $4.45 and a twelve month high of $11.70. The company has a 50 day moving average of $7.51 and a two-hundred day moving average of $7.85. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. During the same period last year, the firm posted ($0.05) EPS. SoFi Technologies’s revenue was up 26.2% on a year-over-year basis. Equities analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several analyst reports. Jefferies Financial Group decreased their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Mizuho cut their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. 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. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Finally, Citigroup assumed coverage on SoFi Technologies in a report on Monday, April 8th. They issued a “buy” rating and a $11.00 target price for the company. Three investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.08.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SOFI. Clarity Capital Partners LLC increased its holdings in SoFi Technologies by 14.0% in the 1st quarter. Clarity Capital Partners LLC now owns 386,318 shares of the company’s stock worth $2,820,000 after buying an additional 47,324 shares during the period. Chevy Chase Trust Holdings LLC raised its holdings in shares of SoFi Technologies by 28.9% during the first quarter. Chevy Chase Trust Holdings LLC now owns 13,335 shares of the company’s stock worth $97,000 after purchasing an additional 2,989 shares during the last quarter. GSA Capital Partners LLP lifted its position in SoFi Technologies by 43.6% during the first quarter. GSA Capital Partners LLP now owns 67,562 shares of the company’s stock valued at $493,000 after purchasing an additional 20,513 shares during the period. Nikko Asset Management Americas Inc. lifted its position in SoFi Technologies by 176.3% during the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after purchasing an additional 6,870,610 shares during the period. Finally, Pegasus Asset Management Inc. boosted its holdings in SoFi Technologies by 3.7% in the first quarter. Pegasus Asset Management Inc. now owns 101,985 shares of the company’s stock valued at $744,000 after purchasing an additional 3,656 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.