California Public Employees Retirement System Boosts Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

California Public Employees Retirement System boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 24.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,624,450 shares of the company's stock after buying an additional 322,967 shares during the quarter. California Public Employees Retirement System owned 0.15% of SoFi Technologies worth $25,017,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Berkshire Capital Holdings Inc. increased its position in SoFi Technologies by 6,208,000.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock valued at $9,560,000 after acquiring an additional 620,800 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of SoFi Technologies in the fourth quarter worth approximately $3,703,000. Hanseatic Management Services Inc. bought a new stake in SoFi Technologies during the fourth quarter valued at approximately $1,116,000. Kercheville Advisors LLC purchased a new stake in SoFi Technologies during the fourth quarter valued at approximately $1,594,000. Finally, Zacks Investment Management bought a new position in SoFi Technologies in the third quarter worth approximately $3,766,000. Institutional investors own 38.43% of the company's stock.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.72, for a total transaction of $142,222.32. Following the sale, the executive vice president now owns 226,210 shares of the company's stock, valued at $2,877,391.20. The trade was a 4.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,905 shares of company stock worth $1,308,075. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI traded up $0.29 during mid-day trading on Monday, reaching $9.86. The stock had a trading volume of 92,180,849 shares, compared to its average volume of 45,703,633. The business's 50 day moving average price is $13.66 and its 200 day moving average price is $13.38. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The company has a market cap of $10.81 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the business posted $0.04 EPS. Research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

SOFI has been the topic of a number of recent research reports. 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. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Morgan Stanley lifted their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.50.

SoFi Technologies 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.