526,775 Shares in SoFi Technologies, Inc. $SOFI Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems acquired 526,775 SoFi Technologies shares worth approximately $9.45 million in the second quarter. Other major investors, including BlackRock and California State Teachers Retirement System, also increased or initiated positions, while institutions collectively own 38.43% of the stock.
• SoFi reported quarterly earnings of $0.12 per share and $1.21 billion in revenue, beating analyst estimates; revenue increased 42.5% year over year. Shares recently opened at $18.01, with a 12-month range of $14.88 to $32.73.
• Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and an average price target of $22.52. Insiders have sold 136,505 shares worth roughly $2.42 million over the past 90 days, primarily through pre-arranged trading plans.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 526,775 shares of the company's stock, valued at approximately $9,445,000.

A number of other large investors have also recently made changes to their positions in SOFI. BlackRock Inc. bought a new position in shares of SoFi Technologies in the 2nd quarter valued at about $1,298,925,000. California State Teachers Retirement System increased its stake in SoFi Technologies by 1,603.2% during the second quarter. California State Teachers Retirement System now owns 31,201,069 shares of the company's stock worth $559,435,000 after acquiring an additional 29,369,164 shares during the last quarter. State Street Corp raised its position in SoFi Technologies by 6.7% during the fourth quarter. State Street Corp now owns 25,937,928 shares of the company's stock valued at $679,055,000 after purchasing an additional 1,637,430 shares during the period. Geode Capital Management LLC lifted its stake in shares of SoFi Technologies by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company's stock valued at $618,395,000 after purchasing an additional 1,951,248 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of SoFi Technologies by 33.6% in the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company's stock valued at $348,806,000 after purchasing an additional 3,350,258 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Down 1.2%

Shares of SOFI opened at $18.01 on Wednesday. The firm has a fifty day moving average price of $17.89 and a 200-day moving average price of $17.44. The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $23.26 billion, a P/E ratio of 37.52, a P/E/G ratio of 1.50 and a beta of 2.20. SoFi Technologies, Inc. has a 12-month low of $14.88 and a 12-month high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The firm's revenue was up 42.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SOFI. Loop Capital assumed coverage on SoFi Technologies in a research report on Tuesday. They set a "hold" rating and a $22.00 target price on the stock. Piper Sandler initiated coverage on shares of SoFi Technologies in a research note on Monday, August 17th. They set an "overweight" rating and a $22.00 price objective for the company. Morgan Stanley cut their price objective on shares of SoFi Technologies from $16.00 to $15.00 and set an "underweight" rating on the stock in a research report on Thursday, July 30th. Needham & Company LLC reduced their target price on shares of SoFi Technologies from $25.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Finally, Scotiabank began coverage on shares of SoFi Technologies in a report on Wednesday, September 2nd. They issued a "sector outperform" rating and a $25.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $22.52.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,286 shares of SoFi Technologies stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the sale, the executive vice president directly owned 356,442 shares of the company's stock, valued at $6,415,956. The trade was a 3.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the company's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value 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 represents a 10.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 have sold 136,505 shares of company stock valued at $2,418,096 in the last ninety days. Insiders own 2.50% of the company's stock.

SoFi Technologies 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.

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