Nordea Investment Management AB Sells 848,076 Shares of SoFi Technologies, Inc. $SOFI

Nordea Investment Management AB reduced its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 89.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 97,821 shares of the company’s stock after selling 848,076 shares during the quarter. Nordea Investment Management AB’s holdings in SoFi Technologies were worth $2,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of SoFi Technologies by 2.0% during 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 during the last quarter. Caxton Associates LLP bought a new position in SoFi Technologies during the first quarter worth about $129,000. Empowered Funds LLC grew its holdings in SoFi Technologies by 5.2% during the first quarter. Empowered Funds LLC now owns 33,126 shares of the company’s stock worth $385,000 after purchasing an additional 1,631 shares during the period. Voya Investment Management LLC increased its position in SoFi Technologies by 1.2% during the first quarter. Voya Investment Management LLC now owns 184,665 shares of the company’s stock worth $2,148,000 after buying an additional 2,186 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in SoFi Technologies by 62.5% in the second quarter. Parallel Advisors LLC now owns 14,229 shares of the company’s stock valued at $259,000 after buying an additional 5,475 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,468 shares of SoFi Technologies stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $27.14, for a total value of $256,961.52. Following the completion of the transaction, the executive vice president directly owned 312,948 shares of the company’s stock, valued at $8,493,408.72. The trade was a 2.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 91,837 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $26.64, for a total value of $2,446,537.68. Following the sale, the chief technology officer owned 794,598 shares of the company’s stock, valued at approximately $21,168,090.72. The trade was a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 157,777 shares of company stock worth $4,119,014. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Down 1.2%

SOFI stock opened at $26.13 on Monday. SoFi Technologies, Inc. has a fifty-two week low of $8.60 and a fifty-two week 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 stock has a market capitalization of $31.51 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 1.63 and a beta of 1.92. The business’s fifty day moving average price is $27.51 and its two-hundred day moving average price is $25.99.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The business had revenue of $949.63 million for the quarter, compared to the consensus estimate of $880.33 million. During the same period in the prior year, the company posted $0.05 earnings per share. SoFi Technologies’s revenue was up 37.7% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analysts Set New Price Targets

SOFI has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. The Goldman Sachs Group cut their price target on SoFi Technologies from $27.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, January 6th. Bank of America initiated coverage on shares of SoFi Technologies in a research report on Tuesday, January 6th. They set an “underperform” rating and a $20.50 price objective for the company. BTIG Research reissued a “neutral” rating on shares of SoFi Technologies in a research report on Wednesday, October 29th. Finally, Truist Financial cut their target price on shares of SoFi Technologies from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, SoFi Technologies has an average 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.