Anthony Noto Acquires 28,900 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) Stock

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) CEO Anthony Noto acquired 28,900 shares of the firm's stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average cost of $6.92 per share, with a total value of $199,988.00. Following the transaction, the chief executive officer now owns 8,062,269 shares in the company, valued at $55,790,901.48. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, May 3rd, Anthony Noto acquired 28,775 shares of SoFi Technologies stock. The stock was acquired at an average price of $6.90 per share, for a total transaction of $198,547.50.

SoFi Technologies Price Performance

Shares of SOFI stock traded down $0.19 on Thursday, hitting $6.83. 52,803,354 shares of the company's stock were exchanged, compared to its average volume of 51,936,145. SoFi Technologies, Inc. has a 12 month low of $5.09 and a 12 month high of $11.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The company has a 50 day moving average of $7.25 and a 200 day moving average of $7.81. The stock has a market cap of $7.22 billion, a P/E ratio of -22.03, a price-to-earnings-growth ratio of 1.65 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The firm's quarterly revenue was up 26.2% compared to the same quarter last year. During the same period last year, the company posted ($0.05) EPS. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in SoFi Technologies during the 4th quarter worth $71,349,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of SoFi Technologies by 176.3% during the first 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. grew its holdings in shares of 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 worth $78,494,000 after purchasing an additional 6,870,610 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of SoFi Technologies by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company's stock valued at $810,527,000 after buying an additional 5,057,233 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in SoFi Technologies in the 4th quarter valued at approximately $38,595,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SOFI. Needham & Company LLC restated a "buy" rating and issued a $10.00 price target on shares of SoFi Technologies in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a "hold" rating for the company in a report on Tuesday, April 30th. The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $7.00 to $8.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 30th. Wedbush reiterated an "underperform" rating and set a $3.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, Citigroup began coverage on SoFi Technologies in a research note on Monday, April 8th. They issued a "buy" rating and a $11.00 price target for the company. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $9.08.

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.