SoFi Technologies, Inc. $SOFI Shares Sold by DNB Asset Management AS

Key Points

• DNB Asset Management AS reduced its SoFi Technologies stake by 38.5% in the fourth quarter, selling 281,062 shares and leaving it with 448,185 shares valued at about $11.7 million.
• SoFi reported better-than-expected revenue in its latest quarter, posting $1.09 billion versus estimates of $1.05 billion, while EPS matched expectations at $0.12 and revenue rose 42.6% year over year.
• Analysts remain cautious overall: SoFi has a consensus “Hold” rating with an average target price of $22.56, even as CEO Anthony Noto recently bought shares and other insiders have been net sellers over the past 90 days.

DNB Asset Management AS cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 38.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 448,185 shares of the company's stock after selling 281,062 shares during the quarter. DNB Asset Management AS's holdings in SoFi Technologies were worth $11,733,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new position in SoFi Technologies in the fourth quarter valued at approximately $25,000. Blue Trust Inc. lifted its holdings in SoFi Technologies by 655.2% in the fourth quarter. Blue Trust Inc. now owns 1,012 shares of the company's stock valued at $26,000 after acquiring an additional 878 shares during the period. Central Pacific Bank Trust Division acquired a new position in SoFi Technologies in the fourth quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SoFi Technologies during the 4th quarter worth approximately $29,000. Finally, Quaker Wealth Management LLC raised its stake in shares of SoFi Technologies by 2,745.2% during the 4th quarter. Quaker Wealth Management LLC now owns 1,195 shares of the company's stock worth $31,000 after buying an additional 1,153 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Price Performance

Shares of SOFI opened at $15.61 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75. SoFi Technologies, Inc. has a one year low of $12.74 and a one year high of $32.73. The stock has a market capitalization of $20.02 billion, a price-to-earnings ratio of 35.48 and a beta of 2.12. The stock has a 50 day moving average price of $17.10 and a 200 day moving average price of $22.55.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The firm had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the previous year, the business earned $0.06 earnings per share. The firm's revenue for the quarter was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

SOFI has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on SoFi Technologies from $19.00 to $18.00 and set an "equal weight" rating for the company in a research note on Thursday, April 9th. Morgan Stanley set a $16.00 target price on SoFi Technologies in a research note on Thursday, April 30th. Citigroup reduced their target price on SoFi Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, May 4th. Argus initiated coverage on SoFi Technologies in a research note on Wednesday, April 15th. They set a "hold" rating for the company. Finally, Weiss Ratings raised SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 8th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, SoFi Technologies presently has an average rating of "Hold" and a consensus target price of $22.56.

Insider Buying and Selling

In other news, CEO Anthony Noto purchased 15,545 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $248,720.00. Following the completion of the transaction, the chief executive officer owned 11,946,619 shares of the company's stock, valued at $191,145,904. This trade represents a 0.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 9,742 shares of the business's stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $19.25, for a total value of $187,533.50. Following the sale, the executive vice president owned 333,284 shares of the company's stock, valued at $6,415,717. The trade was a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 124,197 shares of company stock worth $2,191,758. 2.60% of the stock is owned by corporate insiders.

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.

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