KLP Kapitalforvaltning AS Has $2.43 Million Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

KLP Kapitalforvaltning AS grew its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFIFree Report) by 2.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 209,100 shares of the company’s stock after purchasing an additional 4,100 shares during the period. KLP Kapitalforvaltning AS’s holdings in SoFi Technologies were worth $2,432,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hazlett Burt & Watson Inc. grew its holdings in SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after buying an additional 2,200 shares in the last quarter. Garde Capital Inc. bought a new position in SoFi Technologies during the 1st quarter valued at $31,000. Mpwm Advisory Solutions LLC purchased a new position in SoFi Technologies during the 4th quarter worth $32,000. Larson Financial Group LLC grew its stake in shares of SoFi Technologies by 127.1% in the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company’s stock worth $32,000 after acquiring an additional 1,519 shares in the last quarter. Finally, MCF Advisors LLC raised its holdings in shares of SoFi Technologies by 119.3% in the first quarter. MCF Advisors LLC now owns 3,072 shares of the company’s stock valued at $36,000 after purchasing an additional 1,671 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on SOFI. UBS Group raised their price target on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods lifted their target price on shares of SoFi Technologies from $9.00 to $13.00 and gave the stock an “underperform” rating in a research report on Thursday, July 10th. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Cowen initiated coverage on SoFi Technologies in a report on Friday, July 11th. They issued a “hold” rating for the company. Finally, Stephens started coverage on SoFi Technologies in a report on Thursday, June 12th. They set an “overweight” rating and a $20.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.78.

Read Our Latest Stock Report on SOFI

Insider Buying and Selling

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the transaction, the director owned 289,258 shares of the company’s stock, valued at $4,162,422.62. The trade was a 23.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the sale, the chief technology officer directly owned 724,321 shares in the company, valued at approximately $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 273,181 shares of company stock valued at $4,043,240. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $21.20 on Friday. The firm’s 50 day moving average is $16.73 and its 200 day moving average is $14.61. The stock has a market capitalization of $23.43 billion, a P/E ratio of 51.71, a PEG ratio of 3.63 and a beta of 1.91. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $22.74. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The firm had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. The business’s quarterly revenue was up 32.7% on a year-over-year basis. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

SoFi Technologies Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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