Kennedy Investment Group Decreases Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Kennedy Investment Group cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 40.5% in the 4th quarter, according to the company in 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 quarter. Kennedy Investment Group’s holdings in SoFi Technologies were worth $1,081,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Hanseatic Management Services Inc. bought a new stake in SoFi Technologies during the fourth quarter valued at $1,116,000. Charles Schwab Investment Management Inc. increased its holdings in shares of SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after buying an additional 87,097 shares during the period. Zacks Investment Management purchased a new position in SoFi Technologies during the 3rd quarter valued at about $3,766,000. Citizens Financial Group Inc. RI increased its holdings in SoFi Technologies by 41.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after purchasing an additional 70,603 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now owns 178,811 shares in the company, valued at $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,008,870 shares of company stock worth $416,950,073. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SOFI. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. The Goldman Sachs Group increased their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley increased their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Bank of America restated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, UBS Group raised their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday. Four equities research 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, SoFi Technologies has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Trading Up 0.6 %

Shares of SOFI stock opened at $16.17 on Wednesday. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. 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 stock’s 50-day moving average price is $15.78 and its 200-day moving average price is $11.22. The stock has a market capitalization of $17.55 billion, a price-to-earnings ratio of 161.72, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last issued 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 return on equity of 3.71% and a net margin of 8.38%. During the same period in the previous year, the business earned $0.04 EPS. Equities research analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

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.