Cerity Partners LLC Buys 138,598 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Cerity Partners LLC lifted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 24.5% during the third quarter, Holdings Channel reports. The fund owned 705,371 shares of the company’s stock after buying an additional 138,598 shares during the quarter. Cerity Partners LLC’s holdings in SoFi Technologies were worth $5,544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in SoFi Technologies by 6.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock valued at $75,737,000 after purchasing an additional 690,638 shares during the period. Marshall Wace LLP increased its stake in SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after purchasing an additional 3,593,464 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after acquiring an additional 87,097 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,287 shares of company stock worth $863,250. 2.60% of the stock is owned by company insiders.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $16.12 on Friday. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 161.20, a PEG ratio of 2.61 and a beta of 1.60. The business’s 50 day simple moving average is $10.90 and its 200 day simple moving average is $8.40. 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 $16.16.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. SoFi Technologies’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SOFI. Barclays increased their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Jefferies Financial Group upped their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC raised their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.80.

SoFi Technologies Company 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.