Cerity Partners LLC Purchases New Shares in SoFi Technologies, Inc. (NASDAQ:SOFI)

Cerity Partners LLC acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 546,565 shares of the company's stock, valued at approximately $5,438,000. Cerity Partners LLC owned 0.06% of SoFi Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its position in shares of SoFi Technologies by 40.1% in the fourth quarter. Geneos Wealth Management Inc. now owns 10,125 shares of the company's stock valued at $101,000 after buying an additional 2,900 shares in the last quarter. Axim Planning & Wealth grew its holdings in shares of SoFi Technologies by 15.2% during the 4th quarter. Axim Planning & Wealth now owns 22,000 shares of the company's stock worth $219,000 after purchasing an additional 2,900 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of SoFi Technologies by 15.5% in the fourth quarter. International Assets Investment Management LLC now owns 25,675 shares of the company's stock worth $255,000 after purchasing an additional 3,450 shares during the period. Means Investment CO. Inc. raised its stake in SoFi Technologies by 8.6% in the fourth quarter. Means Investment CO. Inc. now owns 60,778 shares of the company's stock valued at $605,000 after purchasing an additional 4,809 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV lifted its position in SoFi Technologies by 30.6% during the fourth quarter. Mainstay Capital Management LLC ADV now owns 18,350 shares of the company's stock worth $183,000 after purchasing an additional 4,300 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Trading Down 0.6 %

SoFi Technologies stock traded down $0.04 during mid-day trading on Wednesday, hitting $7.16. 29,560,422 shares of the stock were exchanged, compared to its average volume of 53,459,504. The firm's fifty day simple moving average is $7.76 and its two-hundred day simple moving average is $7.91. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. SoFi Technologies, Inc. has a 12 month low of $4.45 and a 12 month high of $11.70. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of -18.84 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The business had revenue of $615.40 million for the quarter, compared to analyst estimates of $572.02 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. SoFi Technologies's revenue for the quarter was up 34.7% on a year-over-year basis. Analysts forecast that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 56,273 shares of the business's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SOFI. Needham & Company LLC assumed coverage on shares of SoFi Technologies in a research report on Wednesday, April 3rd. They set a "buy" rating and a $10.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on SoFi Technologies in a research note on Wednesday, January 10th. They issued a "hold" rating and a $11.00 price target on the stock. Keefe, Bruyette & Woods upgraded SoFi Technologies from an "underperform" rating to a "market perform" rating and upped their price objective for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Wedbush reiterated an "underperform" rating and issued a $3.00 target price on shares of SoFi Technologies in a research report on Wednesday, March 6th. Finally, Mizuho dropped their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of "Hold" and an average price target of $9.08.

SoFi Technologies 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.