KLP Kapitalforvaltning AS Increases Holdings in SoFi Technologies, Inc. $SOFI

KLP Kapitalforvaltning AS lifted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 95.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 421,900 shares of the company’s stock after acquiring an additional 205,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in SoFi Technologies were worth $11,147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock worth $11,077,000 after purchasing an additional 14,281 shares in the last quarter. Alliancebernstein L.P. grew its holdings in SoFi Technologies by 33.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,713,527 shares of the company’s stock valued at $19,928,000 after buying an additional 426,829 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of SoFi Technologies by 13.5% during the first quarter. Integrated Wealth Concepts LLC now owns 98,177 shares of the company’s stock valued at $1,142,000 after buying an additional 11,689 shares during the last quarter. NewEdge Advisors LLC increased its holdings in SoFi Technologies by 19.1% in the 1st quarter. NewEdge Advisors LLC now owns 195,360 shares of the company’s stock valued at $2,272,000 after acquiring an additional 31,360 shares during the last quarter. Finally, Caxton Associates LLP purchased a new stake in SoFi Technologies in the 1st quarter worth $129,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Up 2.7%

Shares of NASDAQ SOFI opened at $27.72 on Friday. SoFi Technologies, Inc. has a 1-year low of $8.60 and a 1-year high of $32.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.16. The business’s 50 day moving average is $27.80 and its two-hundred day moving average is $25.46. The stock has a market capitalization of $33.43 billion, a P/E ratio of 51.33, a PEG ratio of 1.69 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $949.63 million during the quarter, compared to analysts’ expectations of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The company’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, insider Arun Pinto sold 46,132 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $24.76, for a total value of $1,142,228.32. Following the sale, the insider owned 138,396 shares of the company’s stock, valued at approximately $3,426,684.96. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 91,837 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $26.64, for a total transaction of $2,446,537.68. Following the completion of the sale, the chief technology officer owned 794,598 shares of the company’s stock, valued at $21,168,090.72. This trade represents a 10.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 167,813 shares of company stock worth $4,403,334 over the last quarter. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SOFI shares. Truist Financial cut their price objective on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, November 25th. Morgan Stanley increased their price target on SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Needham & Company LLC raised their price target on SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Citigroup upped their price objective on SoFi Technologies from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Mizuho set a $38.00 target price on SoFi Technologies in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $25.50.

SoFi Technologies Company Profile

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.