Public Employees Retirement System of Ohio Makes New $6.46 Million Investment in SoFi Technologies, Inc. $SOFI

Key Points

• Public Employees Retirement System of Ohio purchased 360,578 SoFi shares worth approximately $6.46 million in the second quarter.
• Institutional investors and hedge funds own 38.43% of SoFi, with BlackRock establishing a position valued at about $1.30 billion and several other major firms increasing their holdings.
• SoFi recently exceeded quarterly earnings and revenue expectations, but its shares were down 4.6%; analysts maintain a consensus “Hold” rating with a $22.42 target price.

Public Employees Retirement System of Ohio bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 360,578 shares of the company's stock, valued at approximately $6,465,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SOFI. BlackRock Inc. acquired a new position in shares of SoFi Technologies during the 2nd quarter valued at about $1,298,925,000. State Street Corp increased 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 worth $679,055,000 after purchasing an additional 1,637,430 shares during the last quarter. Geode Capital Management LLC raised its stake in SoFi Technologies by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company's stock worth $618,395,000 after purchasing an additional 1,951,248 shares during the period. Morgan Stanley increased its position in shares of SoFi Technologies by 33.6% during the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company's stock worth $348,806,000 after purchasing an additional 3,350,258 shares during the last quarter. Finally, Norges Bank purchased a new stake in SoFi Technologies in the 4th quarter valued at about $321,515,000. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Down 4.6%

Shares of SOFI opened at $17.05 on Wednesday. The company's 50-day simple moving average is $17.85 and its 200-day simple moving average is $17.49. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74. SoFi Technologies, Inc. has a 1 year low of $14.88 and a 1 year high of $32.73. The stock has a market capitalization of $22.02 billion, a PE ratio of 35.52 and a beta of 2.20.

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

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 102,123 shares of the business'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 transaction, the chief technology officer directly owned 895,089 shares of the company's stock, valued at $15,914,682.42. The trade was a 10.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 company's stock in a transaction dated 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 owned 356,442 shares in the company, valued at approximately $6,415,956. This trade represents a 3.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 136,505 shares of company stock worth $2,418,096 in the last ninety days. Corporate insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SOFI. Wells Fargo & Company lowered their target price on shares of SoFi Technologies from $18.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, July 30th. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $17.00 to $21.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Morgan Stanley lowered their price objective on shares of SoFi Technologies from $16.00 to $15.00 and set an "underweight" rating for the company in a research report on Thursday, July 30th. Finally, Truist Financial lifted 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 research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $22.42.

About SoFi Technologies

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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