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

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

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in SoFi Technologies during the 3rd quarter valued at about $27,000. Brooklyn Investment Group bought a new position in SoFi Technologies during the 3rd quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC raised its position 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 valued at $29,000 after purchasing an additional 1,543 shares during the last quarter. Waldron Private Wealth LLC bought a new position in SoFi Technologies during the 3rd quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in SoFi Technologies during the 3rd quarter valued at approximately $47,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 company insiders.

SoFi Technologies Trading Down 0.3 %

Shares of SOFI opened at $15.90 on Friday. The company’s fifty day moving average is $12.67 and its 200 day moving average is $9.06. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $16.61. The stock has a market capitalization of $17.25 billion, a PE ratio of 159.00, a P/E/G ratio of 2.66 and a beta of 1.77. 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 posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter in the previous year, the business posted ($0.03) earnings per share. The business’s revenue was up 29.8% compared to the same quarter last year. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

SOFI has been the subject of a number of recent analyst reports. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Mizuho increased their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Needham & Company LLC increased their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.50.

SoFi Technologies 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.