State Board of Administration of Florida Retirement System Raises Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

State Board of Administration of Florida Retirement System boosted its position in SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) by 142.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 379,470 shares of the company’s stock after acquiring an additional 222,980 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in SoFi Technologies were worth $1,749,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE grew its stake in shares of SoFi Technologies by 197.0% during the first quarter. US Bancorp DE now owns 3,015 shares of the company’s stock valued at $28,000 after buying an additional 2,000 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of SoFi Technologies during the first quarter worth about $36,000. Psagot Value Holdings Ltd. Israel boosted its holdings in shares of SoFi Technologies by 50.0% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 6,000 shares of the company’s stock worth $28,000 after purchasing an additional 2,000 shares during the period. Carolinas Wealth Consulting LLC purchased a new stake in shares of SoFi Technologies during the first quarter worth about $76,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in shares of SoFi Technologies during the fourth quarter worth about $38,000. Institutional investors own 34.32% of the company’s stock.

SoFi Technologies Stock Performance

SoFi Technologies stock opened at $5.02 on Monday. The company’s 50-day moving average price is $5.71 and its 200-day moving average price is $5.57. SoFi Technologies, Inc. has a twelve month low of $4.24 and a twelve month high of $8.52. The company has a quick ratio of 0.27, a current ratio of 2.00 and a debt-to-equity ratio of 1.05. The company has a market cap of $4.69 billion, a PE ratio of -16.19 and a beta of 1.65.

SoFi Technologies (NASDAQ:SOFI – Get Rating) last posted its earnings results on Monday, May 1st. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. SoFi Technologies had a negative net margin of 13.72% and a negative return on equity of 4.71%. The firm had revenue of $460.20 million for the quarter, compared to the consensus estimate of $436.78 million. During the same period in the previous year, the firm posted ($0.14) EPS. The business’s quarterly revenue was up 43.1% on a year-over-year basis. On average, equities research analysts forecast that SoFi Technologies, Inc. will post -0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on SOFI. Truist Financial began coverage on shares of SoFi Technologies in a report on Friday. They issued a “buy” rating and a $8.00 price objective for the company. Credit Suisse Group lowered their target price on shares of SoFi Technologies from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 31st. Wedbush cut shares of SoFi Technologies from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $8.00 to $5.00 in a research note on Tuesday, May 2nd. Mizuho boosted their price target on shares of SoFi Technologies from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, February 15th. Finally, Oppenheimer boosted their price target on shares of SoFi Technologies from $6.00 to $7.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 31st. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.45.

Insider Activity at SoFi Technologies

In other news, CEO Anthony Noto purchased 3,926 shares of the business’s stock in a transaction that occurred on Saturday, March 4th. The shares were bought at an average cost of $10.19 per share, for a total transaction of $40,005.94. Following the acquisition, the chief executive officer now owns 5,926 shares of the company’s stock, valued at approximately $60,385.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Jeremy Rishel sold 200,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $5.47, for a total transaction of $1,094,000.00. Following the transaction, the chief technology officer now directly owns 101,582 shares in the company, valued at approximately $555,653.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony Noto bought 3,926 shares of the company’s stock in a transaction on Saturday, March 4th. The stock was bought at an average price of $10.19 per share, for a total transaction of $40,005.94. Following the completion of the purchase, the chief executive officer now directly owns 5,926 shares in the company, valued at $60,385.94. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 233,926 shares of company stock worth $1,271,906. Insiders own 13.00% of the company’s stock.

SoFi Technologies Company Profile

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.