Public Employees Retirement Association of Colorado Buys 25,583 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Public Employees Retirement Association of Colorado raised its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 33.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,103 shares of the company’s stock after acquiring an additional 25,583 shares during the period. Public Employees Retirement Association of Colorado’s holdings in SoFi Technologies were worth $675,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SOFI. Dimensional Fund Advisors LP increased its holdings in SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after purchasing an additional 9,482,683 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after purchasing an additional 6,870,610 shares in the last quarter. Nikko Asset Management Americas Inc. raised its position in SoFi Technologies by 176.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after buying an additional 6,870,610 shares during the last quarter. Vanguard Group Inc. boosted its holdings in SoFi Technologies by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock worth $810,527,000 after purchasing an additional 5,057,233 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of SoFi Technologies in the 4th quarter worth $24,571,000. 38.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SOFI has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. BTIG Research began coverage on SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating on the stock. Barclays dropped their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods decreased their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $9.14.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,328 shares of company stock valued at $808,246. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Price Performance

SOFI stock opened at $7.73 on Thursday. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $10.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The firm has a market capitalization of $8.17 billion, a PE ratio of -24.94, a price-to-earnings-growth ratio of 1.60 and a beta of 1.70. The business has a 50 day simple moving average of $7.36 and a 200-day simple moving average of $7.15.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) EPS. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal 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.