Public Employees Retirement System of Ohio Acquires Shares of 360,578 SoFi Technologies, Inc. $SOFI

Public Employees Retirement System of Ohio acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 360,578 shares of the company’s stock, valued at approximately $6,465,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Valley Wealth Managers Inc. purchased a new position in SoFi Technologies in the fourth quarter valued at $25,000. Vermillion Wealth Management Inc. lifted its holdings in SoFi Technologies by 283.1% during the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock worth $26,000 after buying an additional 739 shares during the last quarter. Reflection Asset Management purchased a new stake in SoFi Technologies during the 4th quarter worth about $28,000. Raiffeisen Bank International AG acquired a new position in shares of SoFi Technologies during the 4th quarter worth about $34,000. Finally, SHP Wealth Management purchased a new position in shares of SoFi Technologies in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,286 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the transaction, the executive vice president owned 356,442 shares in the company, valued at approximately $6,415,956. This represents a 3.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the completion of the sale, the chief technology officer owned 895,089 shares of the company’s stock, valued at $15,914,682.42. This trade represents a 10.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 136,505 shares of company stock worth $2,418,096 over the last three months. 2.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler began coverage on SoFi Technologies in a research report on Monday, August 17th. They set an “overweight” rating and a $22.00 target price on the stock. Morgan Stanley dropped their price target on shares of SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings raised shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Wells Fargo & Company reduced their price objective on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Finally, Truist Financial upped their target price on shares of SoFi Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $22.42.

SoFi Technologies Stock Down 4.6%

SOFI opened at $17.05 on Wednesday. SoFi Technologies, Inc. has a 52 week low of $14.88 and a 52 week high of $32.73. The business has a 50 day moving average price of $17.85 and a two-hundred day moving average price of $17.49. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. The company has a market cap of $22.02 billion, a PE ratio of 35.52 and a beta of 2.20.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 42.5% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

SoFi Technologies Company Profile

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.