DNB Asset Management AS Has $7.68 Million Stock Holdings in SoFi Technologies, Inc. $SOFI

DNB Asset Management AS reduced its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 421,685 shares of the company’s stock after selling 10,553 shares during the period. DNB Asset Management AS’s holdings in SoFi Technologies were worth $7,679,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SOFI. Entropy Technologies LP grew its stake in shares of SoFi Technologies by 10.5% in the 2nd quarter. Entropy Technologies LP now owns 523,501 shares of the company’s stock valued at $9,533,000 after buying an additional 49,566 shares during the period. Handelsbanken Fonder AB grew its stake in SoFi Technologies by 3.2% in the second quarter. Handelsbanken Fonder AB now owns 252,900 shares of the company’s stock valued at $4,605,000 after acquiring an additional 7,800 shares during the period. Miller Financial Services LLC increased its holdings in shares of SoFi Technologies by 8.7% during the second quarter. Miller Financial Services LLC now owns 128,145 shares of the company’s stock valued at $2,334,000 after acquiring an additional 10,279 shares in the last quarter. PKS Advisory Services LLC acquired a new position in shares of SoFi Technologies during the second quarter worth approximately $200,000. Finally, Nicholas Wealth LLC. lifted its holdings in shares of SoFi Technologies by 5.9% in the 2nd quarter. Nicholas Wealth LLC. now owns 90,405 shares of the company’s stock worth $1,646,000 after purchasing an additional 5,033 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Up 1.1%

Shares of SOFI stock opened at $25.19 on Friday. SoFi Technologies, Inc. has a 52-week low of $8.60 and a 52-week high of $32.73. The company has a 50-day simple moving average of $28.12 and a two-hundred day simple moving average of $22.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. The company has a market capitalization of $30.38 billion, a price-to-earnings ratio of 46.65, a PEG ratio of 2.46 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $949.63 million during the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.SoFi Technologies’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity

In related news, insider Arun Pinto sold 46,132 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the completion of the sale, the insider owned 138,396 shares in the company, valued at approximately $3,426,684.96. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the sale, the chief technology officer directly owned 759,553 shares in the company, valued at $20,887,707.50. This trade represents a 11.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 175,277 shares of company stock valued at $4,694,595 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on SOFI. Rothschild & Co Redburn initiated coverage on shares of SoFi Technologies in a report on Friday, August 1st. They set a “neutral” rating and a $20.50 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of SoFi Technologies from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Keefe, Bruyette & Woods raised their price target on shares of SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, October 29th. BTIG Research reiterated a “neutral” rating on shares of SoFi Technologies in a research note on Wednesday, October 29th. Finally, Barclays increased their price objective on SoFi Technologies from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.06.

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.