SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by DnB Asset Management AS

DnB Asset Management AS cut its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 289,755 shares of the company’s stock after selling 30,356 shares during the period. DnB Asset Management AS’s holdings in SoFi Technologies were worth $4,462,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in SoFi Technologies during the 4th quarter worth approximately $27,000. Brooklyn Investment Group acquired a new stake in shares of SoFi Technologies in the third quarter worth $28,000. Hollencrest Capital Management purchased a new position in shares of SoFi Technologies in the 4th quarter valued at $31,000. FNY Investment Advisers LLC lifted its holdings in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares in the last quarter. Finally, IAG Wealth Partners LLC purchased a new stake in SoFi Technologies during the 4th quarter worth $38,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 2.9 %

Shares of SoFi Technologies stock opened at $11.85 on Monday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $14.42 and a 200 day moving average price of $13.25. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The firm has a market cap 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.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results 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 quarter last year, the company posted $0.04 EPS. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SOFI has been the topic of several research reports. Bank of America reissued an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. UBS Group raised their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Needham & Company LLC upped their price target on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Finally, The Goldman Sachs Group upped their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, SoFi Technologies has a consensus rating of “Hold” and a consensus target price of $12.50.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 11,181 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.72, for a total transaction of $142,222.32. Following the sale, the executive vice president now owns 226,210 shares in the company, valued at $2,877,391.20. This represents a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,905 shares of company stock worth $1,308,075. 2.60% of the stock is currently owned by insiders.

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.