SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.7% Following Insider Buying Activity

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 2.7% during mid-day trading on Monday following insider buying activity. The company traded as high as $7.27 and last traded at $7.15. Approximately 25,527,049 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 53,993,969 shares. The stock had previously closed at $6.96.

Specifically, CTO Jeremy Rishel sold 56,273 shares of the business's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the sale, the chief technology officer now owns 390,616 shares in the company, valued at approximately $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, CEO Anthony Noto purchased 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 transaction, the chief executive officer now owns 8,033,369 shares of the company's stock, valued at approximately $55,430,246.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the transaction, the chief technology officer now directly owns 390,616 shares of the company's stock, valued at approximately $2,706,968.88. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on SOFI. Wedbush reiterated an "underperform" rating and issued a $3.00 price target on shares of SoFi Technologies in a research note on Tuesday, April 30th. The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.00 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, January 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price objective on shares of SoFi Technologies in a report on Tuesday, April 30th. Jefferies Financial Group reduced their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of SoFi Technologies from $12.00 to $11.00 and set a "hold" rating on the stock in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.08.

SoFi Technologies Stock Up 2.9 %

The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of -23.03 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The firm's fifty day moving average price is $7.51 and its 200-day moving average price is $7.85.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. The firm had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same period last year, the firm posted ($0.05) earnings per share. The business's revenue for the quarter was up 26.2% on a year-over-year basis. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of SoFi Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of SOFI. Norges Bank bought a new position in SoFi Technologies during the fourth quarter worth $71,349,000. Sumitomo Mitsui Trust Holdings Inc. lifted 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 during the period. Nikko Asset Management Americas Inc. boosted its position in shares of SoFi Technologies by 176.3% during 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 stake in SoFi Technologies by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company's stock worth $810,527,000 after purchasing an additional 5,057,233 shares during the period. Finally, Dimensional Fund Advisors LP bought a new stake in SoFi Technologies in the fourth quarter worth approximately $38,595,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.