California State Teachers Retirement System Has $31.20 Million Holdings in SoFi Technologies, Inc. $SOFI

Key Points

• California State Teachers Retirement System reduced its SoFi stake by 5% in the second quarter, selling 91,745 shares and retaining 1.74 million shares worth approximately $31.2 million. Institutional investors and hedge funds collectively own 38.43% of SoFi.
• SoFi insiders sold 136,505 shares worth about $2.42 million during the last quarter, although the transactions were conducted under pre-arranged Rule 10b5-1 plans; insiders own 2.5% of the company.
• SoFi reported quarterly revenue of $1.21 billion, up 42.5% year over year, and adjusted EPS of $0.12, exceeding analyst expectations. Analysts maintain a consensus “Hold” rating with an average price target of $22.52, compared with a share price of $17.15.

California State Teachers Retirement System lowered its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,740,160 shares of the company's stock after selling 91,745 shares during the period. California State Teachers Retirement System owned approximately 0.13% of SoFi Technologies worth $31,201,069 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the business. BlackRock Inc. purchased a new position in SoFi Technologies during the second quarter worth about $1,298,925,000. Geode Capital Management LLC increased its stake in shares of SoFi Technologies by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company's stock valued at $618,395,000 after buying an additional 1,951,248 shares during the period. Norges Bank acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $321,515,000. Bank of America Corp DE purchased a new stake in SoFi Technologies in the 2nd quarter worth $163,808,000. Finally, Dimensional Fund Advisors LP lifted its holdings in SoFi Technologies by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 9,106,532 shares of the company's stock valued at $144,539,000 after acquiring an additional 359,785 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 102,123 shares of the business's stock in a transaction dated 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 transaction, the chief technology officer owned 895,089 shares of the company's stock, valued at approximately $15,914,682.42. The trade was a 10.24% decrease in their ownership of the stock. The sale was disclosed in a legal 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kelli Keough sold 11,286 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the sale, the executive vice president directly owned 356,442 shares of the company's stock, valued at $6,415,956. This represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 136,505 shares of company stock worth $2,418,096 over the last quarter. 2.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SOFI has been the topic of several recent research reports. The Goldman Sachs Group boosted their price objective on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Weiss Ratings upgraded SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Scotiabank started coverage on SoFi Technologies in a report on Wednesday, September 2nd. They set a "sector outperform" rating and a $25.00 price objective on the stock. Wells Fargo & Company reduced their price objective on SoFi Technologies from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 30th. Finally, Truist Financial raised their price target on shares of SoFi Technologies from $18.00 to $19.00 and gave the company a "hold" rating in a research report on Wednesday, August 12th. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $22.52.

SoFi Technologies Stock Performance

Shares of SOFI stock traded down $0.50 on Tuesday, hitting $17.15. The company had a trading volume of 34,319,791 shares, compared to its average volume of 65,840,695. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. SoFi Technologies, Inc. has a twelve month low of $14.88 and a twelve month high of $32.73. The firm has a market cap of $22.15 billion, a P/E ratio of 35.93, a price-to-earnings-growth ratio of 1.42 and a beta of 2.20. The company has a 50-day moving average price of $17.81 and a 200-day moving average price of $17.40.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 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 the consensus estimate of $1.11 billion. During the same quarter in the prior year, the business posted $0.08 EPS. The business's revenue for the quarter was up 42.5% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.61 earnings per share for the current fiscal year.

About SoFi Technologies

SoFi Technologies, Inc is a financial technology company that provides digital financial services to consumers in the United States. The company began in 2011 as a platform focused on student loan refinancing and has expanded into a broader range of lending, banking and investment products.

Through its SoFi platform, the company offers personal loans, student loans, home loans, checking and savings accounts, credit cards, brokerage and investing services, and financial planning tools. Its products are primarily delivered through digital channels, including its website and mobile applications.

SoFi also operates a technology platform business through Galileo Financial Technologies and Technisys, which provide payment, account-management and other financial infrastructure to banks, fintech companies and other businesses.

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