California State Teachers Retirement System Cuts Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

California State Teachers Retirement System trimmed its position in SoFi Technologies, Inc. (NASDAQ:SOFIFree Report) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 960,492 shares of the company’s stock after selling 35,883 shares during the period. California State Teachers Retirement System owned approximately 0.10% of SoFi Technologies worth $9,557,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of SoFi Technologies by 3.5% in the third quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock valued at $610,458,000 after acquiring an additional 2,567,797 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in SoFi Technologies by 20.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock valued at $28,398,000 after purchasing an additional 493,707 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in SoFi Technologies during the 4th quarter worth approximately $38,595,000. Level Four Advisory Services LLC raised its stake in shares of SoFi Technologies by 40.1% during the 4th quarter. Level Four Advisory Services LLC now owns 28,064 shares of the company’s stock worth $279,000 after buying an additional 8,039 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of SoFi Technologies by 384.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 142,534 shares of the company’s stock valued at $1,418,000 after buying an additional 113,100 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SOFI has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Wedbush restated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. Jefferies Financial Group reduced their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Finally, BTIG Research began coverage on SoFi Technologies in a report on Friday. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $9.08.

Read Our Latest Research Report on SoFi Technologies

SoFi Technologies Trading Down 1.3 %

SoFi Technologies stock opened at $6.99 on Friday. The stock has a 50-day moving average price of $7.17 and a 200 day moving average price of $7.80. SoFi Technologies, Inc. has a 52 week low of $6.41 and a 52 week high of $11.70. The stock has a market cap of $7.39 billion, a PE ratio of -22.55, a P/E/G ratio of 1.65 and a beta of 1.72. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50.

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

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the sale, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony Noto bought 28,900 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $6.92 per share, with a total value of $199,988.00. Following the completion of the acquisition, the chief executive officer now owns 8,062,269 shares of the company’s stock, valued at approximately $55,790,901.48. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by insiders.

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.

See Also

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

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