Swedbank AB Invests $2.59 Million in SoFi Technologies, Inc. $SOFI

Swedbank AB acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 97,945 shares of the company’s stock, valued at approximately $2,588,000.

Other institutional investors have also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. bought a new position in SoFi Technologies during the 1st quarter valued at approximately $39,000. Bartlett & CO. Wealth Management LLC grew its position in shares of SoFi Technologies by 46.9% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 1,469 shares of the company’s stock worth $39,000 after buying an additional 469 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of SoFi Technologies by 153.9% during the second quarter. TD Private Client Wealth LLC now owns 2,562 shares of the company’s stock valued at $47,000 after buying an additional 1,553 shares during the period. Hilltop National Bank raised its holdings in shares of SoFi Technologies by 888.0% during the third quarter. Hilltop National Bank now owns 1,976 shares of the company’s stock valued at $52,000 after acquiring an additional 1,776 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of SoFi Technologies by 151.4% during the third quarter. Grove Bank & Trust now owns 2,004 shares of the company’s stock valued at $53,000 after acquiring an additional 1,207 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Arun Pinto sold 46,132 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 138,396 shares of the company’s stock, valued at approximately $3,426,684.96. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 10,340 shares of SoFi Technologies stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $26.43, for a total transaction of $273,286.20. Following the transaction, the executive vice president owned 265,034 shares in the company, valued at $7,004,848.62. This represents a 3.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 167,813 shares of company stock valued at $4,403,334. Insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Down 1.5%

Shares of NASDAQ SOFI opened at $27.07 on Friday. The firm’s 50 day moving average price is $28.19 and its 200-day moving average price is $24.76. SoFi Technologies, Inc. has a 52-week low of $8.60 and a 52-week high of $32.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. The company has a market cap of $32.64 billion, a PE ratio of 50.13 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $949.63 million for the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $35.00 price objective on shares of SoFi Technologies in a report on Tuesday, October 28th. BTIG Research reissued a “neutral” rating on shares of SoFi Technologies in a research note on Wednesday, October 29th. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Truist Financial reduced their target price on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, November 25th. Finally, Citigroup increased their target price on SoFi Technologies from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.69.

About SoFi Technologies

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.