Clarity Capital Partners LLC Buys 47,324 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Clarity Capital Partners LLC grew its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFIFree Report) by 14.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 386,318 shares of the company’s stock after acquiring an additional 47,324 shares during the period. SoFi Technologies makes up approximately 1.9% of Clarity Capital Partners LLC’s portfolio, making the stock its 13th biggest position. Clarity Capital Partners LLC’s holdings in SoFi Technologies were worth $2,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC bought a new stake in shares of SoFi Technologies in the fourth quarter worth $27,000. Westside Investment Management Inc. boosted its position in SoFi Technologies by 93.8% during the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after acquiring an additional 1,500 shares during the last quarter. SOA Wealth Advisors LLC. boosted its position in SoFi Technologies by 61.2% during the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after acquiring an additional 1,713 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in SoFi Technologies during the first quarter valued at $37,000. Finally, Tortoise Investment Management LLC bought a new stake in SoFi Technologies during the fourth quarter valued at $39,000. Institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SOFI. Citigroup initiated coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a report on Tuesday, July 2nd. BTIG Research initiated coverage on shares of SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating on the stock. Wedbush reiterated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a report on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.29.

Get Our Latest Report on SOFI

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the sale, the chief technology officer now owns 453,464 shares in the company, valued at approximately $2,906,704.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other SoFi Technologies news, CEO Anthony Noto bought 28,775 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the transaction, the chief executive officer now directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the transaction, the chief technology officer now owns 453,464 shares in the company, valued at approximately $2,906,704.24. The disclosure for this sale can be found here. Insiders have bought 88,390 shares of company stock worth $597,569 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock traded up $0.19 on Wednesday, reaching $6.57. 37,407,237 shares of the company traded hands, compared to its average volume of 46,864,141. The company has a 50 day moving average of $6.80 and a 200 day moving average of $7.53. The firm has a market capitalization of $6.95 billion, a PE ratio of -21.19, a PEG ratio of 1.48 and a beta of 1.70. SoFi Technologies, Inc. has a 52 week low of $6.15 and a 52 week high of $11.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last released its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The company had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. During the same period last year, the firm earned ($0.05) EPS. SoFi Technologies’s revenue for the quarter was up 26.2% on a year-over-year basis. Equities analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

About SoFi Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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