Kovitz Investment Group Partners LLC Makes New $383,000 Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Kovitz Investment Group Partners LLC acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 48,681 shares of the company’s stock, valued at approximately $383,000.

Several other hedge funds have also bought and sold shares of SOFI. Dimensional Fund Advisors LP boosted its position in SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Marshall Wace LLP boosted its position in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after purchasing an additional 2,688,847 shares in the last quarter. Mizuho Markets Americas LLC boosted its position in SoFi Technologies by 403.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock worth $20,132,000 after purchasing an additional 2,440,745 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in SoFi Technologies in the 3rd quarter worth approximately $16,014,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’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 sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $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 ninety days, insiders sold 25,960,748 shares of company stock valued at $415,523,316. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SOFI. Mizuho increased their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Jefferies Financial Group increased their target price on 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 report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group increased their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average price target of $10.50.

SoFi Technologies Trading Down 0.3 %

Shares of SOFI stock opened at $15.90 on Friday. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $16.61. The firm has a market capitalization of $17.25 billion, a P/E ratio of 159.00, a PEG ratio of 2.66 and a beta of 1.77. The stock’s fifty day moving average is $12.67 and its two-hundred day moving average is $9.06. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

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

About SoFi Technologies

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.