DNB Asset Management AS increased its stake in the shares of SoFi Technologies, Inc. (NASDAQ: SOFI – Get a rating) by 29.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor held 69,187 shares of the company after acquiring an additional 15,759 shares during the period. DNB Asset Management AS’s holdings in SoFi Technologies were worth $654,000 when it last filed with the SEC.
A number of other hedge funds and other institutional investors also changed their stakes in the company. DCM International VI Ltd. acquired a new stake in SoFi Technologies during Q4 valued at approximately $185,092,000. Geode Capital Management LLC increased its stake in SoFi Technologies by 12.0% during the 4th quarter. Geode Capital Management LLC now owns 6,031,801 shares of the company valued at $95,207,000 after purchasing an additional 647,121 shares last quarter. State Street Corp increased its stake in SoFi Technologies by 222.0% during the 4th quarter. State Street Corp now owns 5,929,036 shares of the company valued at $93,738,000 after purchasing an additional 4,087,917 shares last quarter. Charles Schwab Investment Management Inc. increased its position in SoFi Technologies shares by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,155,648 shares of the company worth $49,891,000 after acquiring 345,699 additional shares last quarter. Finally, Northern Trust Corp increased its position in SoFi Technologies shares by 80.7% in the 4th quarter. Northern Trust Corp now owns 1,899,144 shares of the company worth $30,026,000 after acquiring an additional 848,206 shares in the last quarter. Hedge funds and other institutional investors hold 56.45% of the company’s shares.
In other news, CEO Antoine Noto acquired 53,540 shares of the company in a transaction dated Thursday, June 16. The shares were purchased at an average price of $5.58 per share, with a total value of $298,753.20. As a result of the purchase, the CEO now owns 3,567,041 shares of the company, valued at $19,904,088.78. The purchase was disclosed in a filing with the SEC, accessible via the SEC website. Also, VPE Michelle Gil sold 50,000 shares of the company in a trade on Tuesday, June 14. The stock was sold at an average price of $5.48, for a total value of $274,000.00. Following the completion of the sale, the executive vice president now directly owns 1,831,223 shares of the company, valued at approximately $10,035,102.04. Disclosure of this sale can be found here. Insiders purchased a total of 257,753 shares of the company worth $1,561,711 over the past three months. Insiders of the company hold 13.00% of the shares of the company.
Shares of SoFi Technologies Stock opened at $6.13 on Friday. The company’s fifty-day moving average price is $6.54 and its two-hundred-day moving average price is $9.92. The company has a debt ratio of 0.94, a current ratio of 5.60 and a quick ratio of 5.60. The company has a market capitalization of $5.61 billion, a P/E ratio of -7.48 and a beta of 0.84. SoFi Technologies, Inc. has a 1-year low of $4.82 and a 1-year high of $24.65.
Sofi Technologies (NASDAQ: SOFI – Get a rating) last announced its results on Tuesday, May 10. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The company posted revenue of $321.70 million for the quarter, versus a consensus estimate of $283.99 million. SoFi Technologies posted a negative return on equity of 9.24% and a negative net margin of 36.32%. The company’s revenue increased by 48.9% compared to the same quarter last year. On average, research analysts expect SoFi Technologies, Inc. to post -0.45 earnings per share for the current fiscal year.
Several research analysts have recently commented on the company. Oppenheimer lowered his price target on SoFi Technologies from $18.00 to $13.00 and set an “outperform” rating for the company in a Thursday, April 7 research report. Bank of America lowered its target price on SoFi Technologies from $12.00 to $7.00 in a Tuesday, May 10 research report. Moffett Nathanson assumed coverage for SoFi Technologies in a research report on Tuesday, April 5. They issued a “buy” rating and a target price of $13.00 for the company. Credit Suisse Group cut its price target on SoFi Technologies from $15.50 to $9.50 in a research report on Wednesday, May 11. Finally, Morgan Stanley downgraded SoFi Technologies from an “overweight” rating to an “equally weighted” rating and reduced its price target for the company from $18.00 to $10.00 in a Wednesday 16 research report. march. Five investment analysts gave the stock a hold rating and seven gave the stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.04.
Profile SoFi Technologies (Get a rating)
SoFi Technologies, Inc provides digital financial services. It operates through three segments: lending, technology platform and financial services. The society’s lending and financial services and products allow its members to borrow, save, spend, invest and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
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