KLP Kapitalforvaltning AS Invests $3.16 Million in SoFi Technologies, Inc. (NASDAQ:SOFI)

KLP Kapitalforvaltning AS bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 205,000 shares of the company’s stock, valued at approximately $3,157,000.

Several other institutional investors also recently modified their holdings of SOFI. Skandinaviska Enskilda Banken AB publ purchased a new stake in SoFi Technologies during the fourth quarter valued at about $27,000. Hollencrest Capital Management purchased a new position in shares of SoFi Technologies during the 4th quarter valued at about $31,000. FNY Investment Advisers LLC lifted its position in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares during the last quarter. IAG Wealth Partners LLC purchased a new stake in SoFi Technologies in the fourth quarter worth approximately $38,000. Finally, Brooklyn Investment Group bought a new position in SoFi Technologies during the third quarter valued at approximately $28,000. 38.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 68,625 shares of the firm’s 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 transaction, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,905 shares of company stock worth $1,308,075. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SOFI shares. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. increased their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Finally, UBS Group lifted their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $13.07 on Thursday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm’s fifty day simple moving average is $14.60 and its 200 day simple moving average is $13.14. The stock has a market cap of $14.33 billion, a P/E ratio of 35.32, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating 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 last year, the business posted $0.04 EPS. As a group, research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

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.