Norges Bank Buys New Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Norges Bank purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,732,360 shares of the company’s stock, valued at approximately $103,678,000. Norges Bank owned about 0.62% of SoFi Technologies at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Captrust Financial Advisors lifted its holdings in shares of SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after purchasing an additional 809 shares during the last quarter. Procyon Advisors LLC lifted its stake in SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock valued at $208,000 after buying an additional 1,000 shares during the last quarter. Game Plan Financial Advisors LLC boosted its holdings in shares of SoFi Technologies by 13.9% in the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock valued at $128,000 after acquiring an additional 1,000 shares during the period. World Investment Advisors LLC grew its position in shares of SoFi Technologies by 6.5% during the third quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock worth $171,000 after acquiring an additional 1,336 shares during the last quarter. Finally, SOA Wealth Advisors LLC. increased its holdings in shares of SoFi Technologies by 33.1% in the 4th quarter. SOA Wealth Advisors LLC. now owns 5,634 shares of the company’s stock valued at $87,000 after acquiring an additional 1,400 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 8,914 shares of the business’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 completion of the transaction, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,905 shares of company stock worth $1,308,075. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SOFI shares. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group boosted their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Needham & Company LLC increased their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $11.91 on Wednesday. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth 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 50 day simple moving average is $14.20 and its 200-day simple moving average is $13.31. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last posted 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 return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the prior year, the business earned $0.04 EPS. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

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.