DnB Asset Management AS Has $4.46 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

DnB Asset Management AS cut its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 9.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 reporting period.

Several other large investors have also recently added to or reduced their stakes in SOFI. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after buying an additional 8,898,879 shares in the last quarter. Norges Bank bought a new position in shares of SoFi Technologies during the 4th quarter valued at $103,678,000. Amundi increased its position in SoFi Technologies by 58,176.3% during the fourth quarter. Amundi now owns 2,705,185 shares of the company's stock worth $39,360,000 after buying an additional 2,700,543 shares during the last quarter. Quadrature Capital Ltd bought a new position in SoFi Technologies during the third quarter valued at about $16,014,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in SoFi Technologies by 123.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,740,628 shares of the company's stock worth $40,671,000 after purchasing an additional 1,512,326 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock traded down $1.34 during midday trading on Thursday, hitting $10.97. 30,356,915 shares of the company were exchanged, compared to its average volume of 45,151,246. The firm has a 50 day simple moving average of $14.10 and a 200-day simple moving average of $13.30. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The firm has a market cap of $12.03 billion, a P/E ratio of 29.65, a PEG 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 (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period in the prior year, the firm posted $0.04 EPS. Research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analyst Ratings Changes

SOFI has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Morgan Stanley raised their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a report on Thursday, December 19th. UBS Group upped their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Citigroup boosted their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Finally, William Blair reissued an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $12.50.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This represents a 4.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,905 shares of company stock valued at $1,308,075. 2.60% of the stock is currently owned by insiders.

SoFi Technologies 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.