DnB Asset Management AS Trims Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

DnB Asset Management AS decreased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,755 shares of the company’s stock after selling 30,356 shares during the quarter. DnB Asset Management AS’s holdings in SoFi Technologies were worth $4,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Berkshire Capital Holdings Inc. lifted its holdings in shares of SoFi Technologies by 6,208,000.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company’s stock worth $9,560,000 after purchasing an additional 620,800 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of SoFi Technologies in the 4th quarter worth $3,703,000. Hanseatic Management Services Inc. purchased a new stake in shares of SoFi Technologies in the fourth quarter valued at about $1,116,000. Kercheville Advisors LLC acquired a new position in shares of SoFi Technologies during the fourth quarter worth about $1,594,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after purchasing an additional 87,097 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Needham & Company LLC boosted their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Citigroup upped their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, UBS Group increased their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.50.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the transaction, the executive vice president now owns 178,811 shares of the company’s stock, valued at $3,143,497.38. This represents a 4.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,905 shares of company stock worth $1,308,075. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Down 2.9 %

Shares of SoFi Technologies stock opened at $11.85 on Monday. The business has a 50 day moving average price of $14.42 and a 200 day moving average price of $13.25. The company has a market capitalization of $12.99 billion, a P/E ratio of 32.03, a P/E/G ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the company earned $0.04 EPS. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

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.