KLP Kapitalforvaltning AS Buys New Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

KLP Kapitalforvaltning AS acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 205,000 shares of the company's stock, valued at approximately $3,157,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Berkshire Capital Holdings Inc. raised its stake in SoFi Technologies by 6,208,000.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock worth $9,560,000 after purchasing an additional 620,800 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of SoFi Technologies during the 4th quarter valued at $3,703,000. Hanseatic Management Services Inc. acquired a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $1,116,000. Kercheville Advisors LLC bought a new position in shares of SoFi Technologies during the fourth quarter valued at $1,594,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock worth $48,306,000 after buying an additional 87,097 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

NASDAQ:SOFI traded down $0.35 during mid-day trading on Friday, hitting $11.85. The company's stock had a trading volume of 51,207,407 shares, compared to its average volume of 44,957,955. The stock has a market cap of $12.99 billion, a price-to-earnings ratio of 32.03, 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. The business's fifty day moving average is $14.42 and its two-hundred day moving average is $13.21. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42.

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SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the company earned $0.04 earnings per share. Analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Ratings Changes

SOFI has been the subject of several research reports. The Goldman Sachs Group raised their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. UBS Group raised their price objective on shares of 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 SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, December 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four equities 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $12.50.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,181 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the sale, the executive vice president now directly owns 226,210 shares of the company's stock, valued at $2,877,391.20. This represents a 4.71 % 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 the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,905 shares of company stock worth $1,308,075 over the last three months. Insiders own 2.60% of the company's stock.

About SoFi Technologies

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.