Connor Clark & Lunn Investment Management Ltd. Cuts Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Connor Clark & Lunn Investment Management Ltd. lowered its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 30.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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.’s holdings in SoFi Technologies were worth $42,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC boosted its stake in shares of SoFi Technologies by 26.1% during the third quarter. Janney Montgomery Scott LLC now owns 135,063 shares of the company’s stock valued at $1,062,000 after purchasing an additional 27,958 shares during the period. Entropy Technologies LP raised its holdings in shares of SoFi Technologies by 52.0% during the third quarter. Entropy Technologies LP now owns 110,600 shares of the company’s stock valued at $869,000 after acquiring an additional 37,833 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of SoFi Technologies by 5.0% during the third quarter. Harbour Investments Inc. now owns 62,099 shares of the company’s stock valued at $488,000 after acquiring an additional 2,985 shares in the last quarter. Platform Technology Partners bought a new position in shares of SoFi Technologies during the third quarter valued at approximately $88,000. Finally, Verus Capital Partners LLC bought a new position in shares of SoFi Technologies during the third quarter valued at approximately $149,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on SOFI shares. UBS Group upped their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Bank of America restated an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. JPMorgan Chase & Co. upped their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Finally, Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Four analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $11.92 on Thursday. 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 business has a fifty day moving average price of $15.00 and a 200-day moving average price of $12.79. The company has a market capitalization of $13.07 billion, a PE ratio of 32.22, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results 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 quarter in the prior year, the firm earned $0.04 earnings per share. As a group, equities analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity

In other SoFi Technologies news, EVP Eric Schuppenhauer acquired 30,600 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average cost of $16.34 per share, with a total value of $500,004.00. Following the completion of the transaction, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. This represents a 197.36 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the sale, the executive vice president now directly owns 187,725 shares in the company, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,004 shares of company stock worth $1,459,060 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

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.