Cerity Partners LLC Has $5.54 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Cerity Partners LLC grew its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 24.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 705,371 shares of the company’s stock after buying an additional 138,598 shares during the period. Cerity Partners LLC owned approximately 0.07% of SoFi Technologies worth $5,544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of SoFi Technologies in the third quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC increased its stake in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares during the period. Waldron Private Wealth LLC acquired a new position in SoFi Technologies in the 3rd quarter valued at $39,000. GAMMA Investing LLC grew its holdings in shares of SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of SoFi Technologies in the third quarter worth $47,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analysts Set New Price Targets

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

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $16.12 on Friday. The firm has a market capitalization 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 company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average price is $10.90 and its 200-day moving average price is $8.40. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $16.16.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity at SoFi Technologies

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

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.