SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Acquires 28,775 Shares

SoFi Technologies, Inc. (NASDAQ:SOFI) CEO Anthony Noto acquired 28,775 shares of SoFi Technologies 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 acquisition, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SoFi Technologies Stock Down 0.4 %

Shares of NASDAQ SOFI opened at $6.96 on Monday. The stock’s 50-day simple moving average is $7.51 and its two-hundred day simple moving average is $7.85. SoFi Technologies, Inc. has a twelve month low of $4.45 and a twelve month high of $11.70. 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 issued its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. SoFi Technologies’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. On average, analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Analysts Set New Price Targets

SOFI has been the subject of several research reports. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research report on Tuesday, April 30th. Morgan Stanley reaffirmed an “underweight” rating and issued a $6.50 price objective (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Finally, Wedbush reissued an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a report on Tuesday, April 30th. Three 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.08.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in SoFi Technologies in the fourth quarter worth approximately $71,349,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after purchasing an additional 6,870,610 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of SoFi Technologies by 176.3% in the 1st 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 in the last quarter. Vanguard Group Inc. grew its holdings in shares of SoFi Technologies by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after purchasing an additional 5,057,233 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in SoFi Technologies in the 4th quarter worth $38,595,000. Hedge funds and other institutional investors 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.