Insider Buying: SoFi Technologies, Inc. (NASDAQ:SOFI) EVP Purchases $500,004.00 in Stock

SoFi Technologies, Inc. (NASDAQ:SOFI) EVP Eric Schuppenhauer bought 30,600 shares of the business’s stock in a transaction on Monday, December 16th. The shares were acquired at an average price of $16.34 per share, with a total value of $500,004.00. Following the completion of the purchase, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

SoFi Technologies Trading Down 8.5 %

Shares of SoFi Technologies stock opened at $15.24 on Thursday. The stock has a market capitalization of $16.54 billion, a PE ratio of 152.42, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $17.19. The stock has a 50 day moving average price of $13.30 and a two-hundred day moving average price of $9.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the previous year, the business posted ($0.03) EPS. SoFi Technologies’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Jefferies Financial Group increased their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Bank of America reiterated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.50.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently added to or reduced their stakes in SOFI. Captrust Financial Advisors raised its stake in shares of SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after purchasing an additional 809 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after acquiring an additional 855 shares in the last quarter. CIBC Asset Management Inc lifted its stake in SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after acquiring an additional 962 shares in the last quarter. Oak Harbor Wealth Partners LLC grew its stake in shares of SoFi Technologies by 10.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Stratos Wealth Advisors LLC grew its stake in shares of SoFi Technologies by 3.3% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock worth $256,000 after acquiring an additional 1,054 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

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.