Kennedy Investment Group Sells 47,800 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Kennedy Investment Group lessened its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 40.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,200 shares of the company’s stock after selling 47,800 shares during the period. Kennedy Investment Group’s holdings in SoFi Technologies were worth $1,081,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SoFi Technologies by 214.9% during the third 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. Quadrature Capital Ltd acquired a new position in shares of SoFi Technologies during the third quarter worth $16,014,000. Zacks Investment Management acquired a new position in shares of SoFi Technologies during the third quarter worth $3,766,000. Point72 DIFC Ltd acquired a new position in shares of SoFi Technologies during the third quarter worth $3,219,000. Finally, Rockefeller Capital Management L.P. increased its position in shares of SoFi Technologies by 20.6% during the third quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company’s stock worth $17,365,000 after purchasing an additional 376,899 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Insider Transactions at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the transaction, the director now owns 25,937 shares in the company, valued at $415,510.74. This represents a 66.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the transaction, the executive vice president now owns 178,811 shares of the company’s stock, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,008,870 shares of company stock valued at $416,950,073 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Trading Up 0.6 %

SOFI stock opened at $16.17 on Wednesday. The company’s 50-day simple moving average is $15.78 and its 200-day simple moving average is $11.22. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42. The firm has a market cap of $17.55 billion, a P/E ratio of 161.72, a PEG ratio of 1.19 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. During the same quarter last year, the company posted $0.04 EPS. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SOFI. Morgan Stanley boosted their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. The Goldman Sachs Group boosted their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday. Barclays boosted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Citigroup boosted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average target price of $12.50.

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.