Connor Clark & Lunn Investment Management Ltd. Has $30.97 Million Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 214.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,940,340 shares of the company’s stock after buying an additional 2,688,847 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.37% of SoFi Technologies worth $30,971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in shares of SoFi Technologies in the third quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC lifted its position in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares in the last quarter. GAMMA Investing LLC boosted its stake in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the period. Waldron Private Wealth LLC bought a new position in SoFi Technologies during the 3rd quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in shares of SoFi Technologies in the 3rd quarter valued at about $47,000. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Up 1.7 %

Shares of SOFI stock opened at $14.67 on Thursday. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $14.89. The stock has a market cap of $15.92 billion, a price-to-earnings ratio of 146.70, a PEG ratio of 2.27 and a beta of 1.60. The firm’s 50-day moving average is $10.13 and its 200-day moving average is $8.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction on Friday, September 20th. The shares were 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 owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,697 shares of company stock valued at $723,620 in the last quarter. 2.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on SOFI. Jefferies Financial Group increased their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays increased their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.80.

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.