SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 30.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,729,750 shares of the company's stock after selling 1,210,590 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.25% of SoFi Technologies worth $42,038,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at about $1,370,000. Hollencrest Capital Management acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $31,000. Wealthfront Advisers LLC grew its position in shares of SoFi Technologies by 72.5% during the fourth quarter. Wealthfront Advisers LLC now owns 179,581 shares of the company's stock worth $2,766,000 after acquiring an additional 75,452 shares during the last quarter. Miller Financial Services LLC acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $1,810,000. Finally, SPX Gestao de Recursos Ltda purchased a new stake in SoFi Technologies in the 4th quarter valued at $1,540,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Eric Schuppenhauer bought 30,600 shares of SoFi Technologies stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the acquisition, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. This trade represents a 197.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares of the company's stock, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,004 shares of company stock valued at $1,459,060 over the last quarter. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Price Performance

SoFi Technologies stock traded up $0.70 during mid-day trading on Friday, reaching $12.09. The company had a trading volume of 37,340,434 shares, compared to its average volume of 46,843,879. The stock's 50-day simple moving average is $14.89 and its 200-day simple moving average is $12.85. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a market capitalization of $13.26 billion, a P/E ratio of 32.68, a P/E/G ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the company posted $0.04 earnings per share. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. The Goldman Sachs Group upped their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Mizuho lifted their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. upped their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.