DNB Asset Management AS Increases Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) – Defense World
Posted by admin on Jun 26th, 2022 
DNB Asset Management AS lifted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) by 29.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 69,187 shares of the company’s stock after acquiring an additional 15,759 shares during the period. DNB Asset Management AS’s holdings in SoFi Technologies were worth $654,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. DCM International VI Ltd. acquired a new stake in SoFi Technologies during the 4th quarter valued at approximately $185,092,000. Geode Capital Management LLC grew 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’s stock valued at $95,207,000 after purchasing an additional 647,121 shares in the last quarter. State Street Corp grew its stake in SoFi Technologies by 222.0% during the 4th quarter. State Street Corp now owns 5,929,036 shares of the company’s stock valued at $93,738,000 after purchasing an additional 4,087,917 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of SoFi Technologies by 12.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,155,648 shares of the company’s stock worth $49,891,000 after acquiring an additional 345,699 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of SoFi Technologies by 80.7% in the 4th quarter. Northern Trust Corp now owns 1,899,144 shares of the company’s stock worth $30,026,000 after acquiring an additional 848,206 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.
In other news, CEO Anthony Noto acquired 53,540 shares of the company’s stock in a transaction dated Thursday, June 16th. The shares were bought at an average price of $5.58 per share, with a total value of $298,753.20. Following the purchase, the chief executive officer now owns 3,567,041 shares of the company’s stock, valued at $19,904,088.78. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michelle Gill sold 50,000 shares of the business’s stock in a transaction on Tuesday, June 14th. 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 in the company, valued at approximately $10,035,102.04. The disclosure for this sale can be found here. Insiders bought a total of 257,753 shares of company stock worth $1,561,711 in the last three months. Company insiders own 13.00% of the company’s stock.
Shares of SoFi Technologies stock opened at $6.13 on Friday. The business’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-to-equity 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 Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The firm had revenue of $321.70 million for the quarter, compared to the consensus estimate of $283.99 million. SoFi Technologies had a negative return on equity of 9.24% and a negative net margin of 36.32%. The company’s revenue was up 48.9% compared to the same quarter last year. On average, research analysts expect that SoFi Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.
Several research analysts have recently commented on the company. Oppenheimer decreased their target price on SoFi Technologies from $18.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, April 7th. Bank of America decreased their target price on SoFi Technologies from $12.00 to $7.00 in a research report on Tuesday, May 10th. Moffett Nathanson assumed coverage on SoFi Technologies in a research report on Tuesday, April 5th. They issued a “buy” rating and a $13.00 target price for the company. Credit Suisse Group decreased their target price on SoFi Technologies from $15.50 to $9.50 in a research report on Wednesday, May 11th. Finally, Morgan Stanley lowered SoFi Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $18.00 to $10.00 in a research report on Wednesday, March 16th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.04.
SoFi Technologies Profile (Get Rating)
SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows 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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