SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.3% on Insider Buying Activity

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price rose 0.3% during trading on Tuesday following insider buying activity. The stock traded as high as $7.18 and last traded at $7.18. Approximately 8,007,087 shares were traded during trading, a decline of 85% from the average daily volume of 53,758,680 shares. The stock had previously closed at $7.16.

Specifically, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Noto acquired 28,775 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the transaction, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

SOFI has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Morgan Stanley reaffirmed an “underweight” rating and set a $6.50 target price (down previously from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Mizuho reduced their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Finally, 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 report on Tuesday, March 26th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average target price of $9.08.

SoFi Technologies Stock Performance

The firm has a market capitalization of $6.99 billion, a PE ratio of -23.16 and a beta of 1.75. The business’s fifty day simple moving average is $7.51 and its 200-day simple moving average is $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 released its earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently made changes to their positions in SOFI. SG Americas Securities LLC grew its stake in SoFi Technologies by 23.5% during the 3rd quarter. SG Americas Securities LLC now owns 34,436 shares of the company’s stock worth $275,000 after buying an additional 6,548 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of SoFi Technologies by 12.9% during the third quarter. Commonwealth Equity Services LLC now owns 1,075,755 shares of the company’s stock valued at $8,595,000 after acquiring an additional 123,289 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of SoFi Technologies by 102.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock valued at $3,962,000 after purchasing an additional 250,854 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in SoFi Technologies by 79.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 74,339 shares of the company’s stock worth $594,000 after purchasing an additional 32,861 shares in the last quarter. Finally, Stratos Wealth Advisors LLC purchased a new stake in SoFi Technologies during the 3rd quarter worth approximately $190,000. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Company Profile

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.