Clarity Capital Partners LLC Sells 31,764 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Clarity Capital Partners LLC lessened its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 410,280 shares of the company’s stock after selling 31,764 shares during the quarter. SoFi Technologies comprises about 3.3% of Clarity Capital Partners LLC’s holdings, making the stock its 9th biggest holding. Clarity Capital Partners LLC’s holdings in SoFi Technologies were worth $6,318,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CWM LLC raised its holdings in SoFi Technologies by 93.0% in the third quarter. CWM LLC now owns 98,956 shares of the company’s stock valued at $778,000 after acquiring an additional 47,672 shares in the last quarter. NBC Securities Inc. raised its holdings in SoFi Technologies by 12.7% in the third quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after acquiring an additional 1,081 shares in the last quarter. Capital Advisors Wealth Management LLC raised its holdings in SoFi Technologies by 5.0% in the third quarter. Capital Advisors Wealth Management LLC now owns 108,179 shares of the company’s stock valued at $850,000 after acquiring an additional 5,180 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in SoFi Technologies by 5.5% in the third quarter. Vontobel Holding Ltd. now owns 199,575 shares of the company’s stock valued at $1,569,000 after acquiring an additional 10,338 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in SoFi Technologies by 58.7% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 16,478 shares of the company’s stock valued at $130,000 after acquiring an additional 6,096 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,008,870 shares of company stock worth $416,950,073. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI opened at $14.77 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The firm has a market cap of $16.03 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The company’s 50 day simple moving average is $15.70 and its 200-day simple moving average is $11.80. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the firm earned $0.04 EPS. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.27 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Barclays raised their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Bank of America reaffirmed an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. Needham & Company LLC increased their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Finally, The Goldman Sachs Group increased their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies has an average rating of “Hold” and an average target price of $12.50.

About SoFi Technologies

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.