Insider Buying: CEO of SoFi Technologies, Inc. (NASDAQ:SOFI) Buys 13,500 Shares

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SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) CEO Anthony Noto purchased 13,500 shares of the company in a trade that took place on Thursday, May 19. The shares were acquired at an average price of $7.79 per share, for a total transaction of $105,165.00. Following completion of the transaction, the CEO now owns 3,212,839 shares of the company, valued at $25,028,015.81. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website.

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

  • On Wednesday March 16, Anthony Noto bought 17,375 SoFi Technologies shares. The shares were acquired at an average price of $8.62 per share, for a total transaction of $149,772.50.
  • On Monday March 14, Anthony Noto bought 19,042 SoFi Technologies shares. The shares were acquired at an average price of $7.85 per share, for a total transaction of $149,479.70.
  • On Thursday, March 10, Anthony Noto acquired 15,873 SoFi Technologies shares. The stock was purchased at an average price of $9.44 per share, for a total transaction of $149,841.12.
  • On Monday March 7, Anthony Noto acquired 15,350 SoFi Technologies shares. The stock was purchased at an average price of $9.73 per share, for a total transaction of $149,355.50.
  • On Friday March 4, Anthony Noto acquired 15,000 SoFi Technologies shares. The shares were purchased at an average price of $9.96 per share, for a total transaction of $149,400.00.

SoFi Technologies stock traded down $0.52 at midday on Thursday, hitting $7.75. 57,356,329 shares of the company were traded, against an average volume of 61,268,348. The company has a market capitalization of $6.42 billion, a P/E ratio of -9.55 and a beta of 0, 90. SoFi Technologies, Inc. has a fifty-two-week low of $4.82 and a fifty-two-week high of $24.95. The company has a quick ratio of 5.60, a current ratio of 5.60 and a leverage ratio of 0.94. The company’s 50-day simple moving average is $7.75 and its 200-day simple moving average is $12.48.

SoFi Technologies (NASDAQ:SOFI – Get Rating) last released quarterly earnings data on Tuesday, May 10. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). The company posted revenue of $321.70 million for the quarter, versus a consensus estimate of $283.99 million. SoFi Technologies posted a negative return on equity of 9.24% and a negative net margin of 36.32%. The company’s revenue increased by 48.9% compared to the same quarter last year. Research analysts expect SoFi Technologies, Inc. to post EPS of -0.45 for the current year.

A number of institutional investors have recently changed their stock portfolios. Mine & Arao Wealth Creation & Management LLC. increased its stake in SoFi Technologies shares by 40.0% in the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 1,960 shares of the company valued at $32,000 after purchasing an additional 560 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in SoFi Technologies shares by 119.4% in Q3. Patriot Financial Group Insurance Agency LLC now owns 1,975 shares of the company valued at $31,000 after purchasing an additional 1,075 shares during the period. Amplius Wealth Advisors LLC acquired a new stake in the shares of SoFi Technologies in the 4th quarter valued at approximately $31,000. Clearstead Advisors LLC increased its stake in SoFi Technologies shares by 250.0% in Q3. Clearstead Advisors LLC now owns 2,240 shares of the company valued at $36,000 after purchasing an additional 1,600 shares during the period. Finally, TimeScale Financial Inc. increased its stake in SoFi Technologies by 81.5% in the 4th quarter. TimeScale Financial Inc. now owns 2,319 shares of the company valued at $37,000 after purchasing an additional 1,041 shares during the period. 56.45% of the shares are currently held by institutional investors and hedge funds.

A number of brokerages have commented on SOFI. Rosenblatt Securities lowered its price target on SoFi Technologies from $25.00 to $22.00 and set a “buy” rating on the stock in a Wednesday, Feb. 23 research report. Credit Suisse Group lowered its price target on SoFi Technologies from $15.50 to $9.50 in a Wednesday, May 11 research report. Zacks Investment Research downgraded SoFi Technologies from a “Hold” rating to a “Sell” rating in a Wednesday, May 4 research report. Citigroup reduced its price target on SoFi Technologies from $17.00 to $11.00 in a Thursday, May 12 research note. Finally, Bank of America reduced its price target on SoFi Technologies from $12.00 to $7.00 in a Tuesday, May 10 research note. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned the company a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.04.

About SoFi Technologies (Get a rating)

SoFi Technologies, Inc provides digital financial services. It operates through three segments: lending, technology platform and financial services. The society’s lending and financial services and products allow 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.

Further reading

Insider buying and selling by quarter for SoFi Technologies (NASDAQ:SOFI)



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