Kovitz Investment Group Partners LLC Buys Shares of 48,681 SoFi Technologies, Inc. (NASDAQ:SOFI)

Kovitz Investment Group Partners LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 48,681 shares of the company's stock, valued at approximately $383,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company's stock worth $141,974,000 after purchasing an additional 310,532 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock valued at $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in SoFi Technologies by 6.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company's stock worth $75,737,000 after acquiring an additional 690,638 shares during the period. Marshall Wace LLP increased its holdings in SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company's stock worth $42,026,000 after acquiring an additional 3,593,464 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock worth $48,306,000 after purchasing an additional 87,097 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Needham & Company LLC upped their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Barclays raised their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Bank of America reissued an "underperform" rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday. Finally, Jefferies Financial Group raised 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $10.50.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies 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 completion of the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 11.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. Insiders have sold a total of 25,960,748 shares of company stock worth $415,523,316 in the last quarter. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Stock Up 1.9 %

Shares of NASDAQ:SOFI traded up $0.30 during trading on Friday, hitting $16.20. The stock had a trading volume of 30,526,068 shares, compared to its average volume of 47,533,578. The company has a market capitalization of $17.58 billion, a PE ratio of 159.62, a PEG ratio of 2.65 and a beta of 1.77. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm's fifty day moving average is $12.67 and its 200 day moving average is $9.06. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $16.61.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share 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%. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The firm's quarterly revenue was up 29.8% compared to the same quarter last year. Analysts anticipate 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.