Clarity Capital Partners LLC Boosts Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Clarity Capital Partners LLC increased its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 14.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 386,318 shares of the company’s stock after buying an additional 47,324 shares during the period. SoFi Technologies accounts for about 1.9% of Clarity Capital Partners LLC’s holdings, making the stock its 13th largest holding. Clarity Capital Partners LLC’s holdings in SoFi Technologies were worth $2,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Chevy Chase Trust Holdings LLC lifted its position in SoFi Technologies by 28.9% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 13,335 shares of the company’s stock valued at $97,000 after acquiring an additional 2,989 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of SoFi Technologies by 43.6% during the 1st quarter. GSA Capital Partners LLP now owns 67,562 shares of the company’s stock valued at $493,000 after buying an additional 20,513 shares during the period. Nikko Asset Management Americas Inc. lifted its holdings in shares of SoFi Technologies by 176.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after buying an additional 6,870,610 shares during the period. Pegasus Asset Management Inc. lifted its holdings in shares of SoFi Technologies by 3.7% during the 1st quarter. Pegasus Asset Management Inc. now owns 101,985 shares of the company’s stock valued at $744,000 after buying an additional 3,656 shares during the period. Finally, Nordea Investment Management AB purchased a new position in SoFi Technologies during the first quarter valued at $6,264,000. 38.43% of the stock is owned by institutional investors.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CEO Anthony Noto purchased 28,775 shares of SoFi Technologies stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $6.90 per share, with a total value of $198,547.50. Following the completion of the transaction, the chief executive officer now owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Anthony Noto bought 28,775 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average cost of $6.90 per share, with a total value of $198,547.50. Following the transaction, the chief executive officer now directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 88,390 shares of company stock valued at $597,569. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Up 3.0 %

Shares of NASDAQ SOFI traded up $0.19 during trading hours on Wednesday, reaching $6.57. The stock had a trading volume of 37,407,237 shares, compared to its average volume of 46,864,141. The business’s fifty day moving average price is $6.80 and its two-hundred day moving average price is $7.53. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of -21.19, a P/E/G ratio of 1.48 and a beta of 1.70. SoFi Technologies, Inc. has a 52-week low of $6.15 and a 52-week high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. SoFi Technologies’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Analysts expect that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on SOFI. Jefferies Financial Group lowered their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods decreased their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price target on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a report on Tuesday, July 2nd. Finally, Wedbush reissued an “underperform” rating and set a $3.00 price target on shares of SoFi Technologies in a report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.29.

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.