Cerity Partners LLC Buys 90,882 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Cerity Partners LLC boosted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 17.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 598,501 shares of the company's stock after buying an additional 90,882 shares during the period. Cerity Partners LLC owned 0.05% of SoFi Technologies worth $6,961,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. AlphaStar Capital Management LLC increased its stake in shares of SoFi Technologies by 5.4% in the first quarter. AlphaStar Capital Management LLC now owns 315,733 shares of the company's stock valued at $3,672,000 after purchasing an additional 16,287 shares during the period. M&T Bank Corp increased its holdings in shares of SoFi Technologies by 10.0% during the first quarter. M&T Bank Corp now owns 58,186 shares of the company's stock valued at $677,000 after purchasing an additional 5,274 shares during the period. Brown Advisory Inc. acquired a new position in SoFi Technologies during the 1st quarter valued at about $288,000. Highview Capital Management LLC DE increased its stake in SoFi Technologies by 25.1% during the 1st quarter. Highview Capital Management LLC DE now owns 93,573 shares of the company's stock valued at $1,088,000 after buying an additional 18,791 shares during the period. Finally, U.S. Capital Wealth Advisors LLC increased its stake in shares of SoFi Technologies by 27.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 15,933 shares of the company's stock valued at $185,000 after acquiring an additional 3,437 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI traded up $0.65 during midday trading on Thursday, reaching $22.04. 35,102,930 shares of the company traded hands, compared to its average volume of 58,281,875. The stock's 50-day simple moving average is $15.65 and its 200-day simple moving average is $14.31. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $22.14. The firm has a market cap of $24.36 billion, a PE ratio of 53.75, a PEG ratio of 3.51 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The business's revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 earnings per share. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, Director Magdalena Yesil sold 87,140 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the transaction, the director owned 289,258 shares in the company, valued at $4,162,422.62. This represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the sale, the chief technology officer directly owned 724,321 shares in the company, valued at $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 274,095 shares of company stock worth $3,939,168. Company insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of research analyst reports. Truist Financial lifted their target price on SoFi Technologies from $14.00 to $20.00 and gave the stock a "hold" rating in a report on Thursday. Citizens Jmp cut shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research report on Monday. Barclays lifted their price objective on shares of SoFi Technologies from $12.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Stephens began coverage on SoFi Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price target on the stock. Finally, UBS Group lifted their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $16.78.

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.