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

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

Other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its position in SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after buying an additional 962 shares during the period. Oak Harbor Wealth Partners LLC grew its holdings in SoFi Technologies by 10.0% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares during the period. Stratos Wealth Advisors LLC grew its stake in SoFi Technologies by 3.3% during the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock worth $256,000 after purchasing an additional 1,054 shares during the period. NBC Securities Inc. boosted its stake in SoFi Technologies by 12.7% during the third quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock worth $75,000 after acquiring an additional 1,081 shares in the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in shares of SoFi Technologies by 11.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 12,026 shares of the company’s stock valued at $95,000 after buying an additional 1,226 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SOFI has been the subject of several research reports. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Needham & Company LLC upped their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.80.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,697 shares of company stock valued at $723,620. 2.60% of the stock is owned by insiders.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $14.67 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market capitalization of $15.92 billion, a PE ratio of 146.70, a price-to-earnings-growth ratio of 2.27 and a beta of 1.60. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $14.89. The company has a 50-day simple moving average of $10.13 and a 200 day simple moving average of $8.10.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. SoFi Technologies’s revenue was up 29.8% on a year-over-year basis. On average, research analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

SoFi Technologies Company 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.