Skandinaviska Enskilda Banken AB publ Purchases Shares of 1,743 SoFi Technologies, Inc. (NASDAQ:SOFI)

Skandinaviska Enskilda Banken AB publ purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,743 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in SoFi Technologies in the fourth quarter valued at about $31,000. FNY Investment Advisers LLC increased its holdings in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after purchasing an additional 1,905 shares during the period. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies in the third quarter valued at about $28,000. AdvisorNet Financial Inc increased its holdings in shares of SoFi Technologies by 63.5% in the fourth quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock valued at $84,000 after purchasing an additional 2,130 shares during the period. Finally, SOA Wealth Advisors LLC. increased its holdings in shares of SoFi Technologies by 33.1% in the fourth quarter. SOA Wealth Advisors LLC. now owns 5,634 shares of the company’s stock valued at $87,000 after purchasing an additional 1,400 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group increased their price objective on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Mizuho increased their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Needham & Company LLC raised their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley raised their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.50.

Insider Activity

In other news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 178,811 shares in the company, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,004 shares of company stock worth $1,459,060 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Stock Down 3.0 %

Shares of SOFI opened at $11.95 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The stock’s 50 day moving average is $14.77 and its two-hundred day moving average is $12.94. The firm has a market cap of $13.10 billion, a P/E ratio of 32.30, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 period last year, the company earned $0.04 EPS. Analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

SoFi Technologies 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.