SoFi Technologies, Inc. $SOFI Shares Purchased by Illinois Municipal Retirement Fund

Key Points

• Illinois Municipal Retirement Fund increased its SoFi Technologies stake by 24.7% in the first quarter, buying 37,554 more shares for a total of 189,849 shares valued at about $3.0 million.
• Institutional ownership remains significant, with hedge funds and other investors holding 38.43% of SoFi’s stock. Several large firms, including Vanguard and State Street, also raised their positions.
• SoFi’s latest quarter showed EPS of $0.12, matching expectations, while revenue came in at $1.09 billion, above estimates and up 42.6% year over year. Analysts currently rate the stock a consensus “Hold” with an average price target of $22.78.

Illinois Municipal Retirement Fund boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 24.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,849 shares of the company's stock after purchasing an additional 37,554 shares during the quarter. Illinois Municipal Retirement Fund's holdings in SoFi Technologies were worth $3,015,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SOFI. Norges Bank bought a new stake in shares of SoFi Technologies in the fourth quarter worth $321,515,000. State Street Corp grew its holdings in SoFi Technologies by 30.7% during the 3rd quarter. State Street Corp now owns 24,300,498 shares of the company's stock worth $642,019,000 after acquiring an additional 5,708,053 shares in the last quarter. Marshall Wace LLP grew its holdings in SoFi Technologies by 372.9% during the 4th quarter. Marshall Wace LLP now owns 6,650,744 shares of the company's stock worth $174,116,000 after acquiring an additional 5,244,291 shares in the last quarter. Vanguard Group Inc. increased its position in shares of SoFi Technologies by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company's stock worth $2,906,061,000 after purchasing an additional 3,900,895 shares during the last quarter. Finally, Morgan Stanley increased its position 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 worth $348,806,000 after purchasing an additional 3,350,258 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SOFI. The Goldman Sachs Group upped their target price 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. Needham & Company LLC lowered their price objective on SoFi Technologies from $33.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Mizuho set a $29.00 price objective on SoFi Technologies in a research note on Wednesday, May 6th. Morgan Stanley set a $16.00 target price on SoFi Technologies in a report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods decreased their target price on SoFi Technologies from $20.00 to $17.00 and set an "underperform" rating for the company in a research report on Thursday, April 9th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $22.78.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $17.28 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.13 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $17.10 and a 200-day moving average of $19.11. The firm has a market capitalization of $22.17 billion, a PE ratio of 39.27 and a beta of 2.14. SoFi Technologies, Inc. has a 52 week low of $14.92 and a 52 week high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.12. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The business's revenue for the quarter was up 42.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Analysts predict that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total value of $1,815,746.94. Following the sale, the chief technology officer owned 895,089 shares of the company's stock, valued at $15,914,682.42. This trade represents a 10.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 10,954 shares of SoFi Technologies stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $17.35, for a total transaction of $190,051.90. Following the completion of the sale, the executive vice president owned 378,682 shares in the company, valued at approximately $6,570,132.70. This represents a 2.81% decrease in their ownership of the stock. 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 a total of 134,044 shares of company stock valued at $2,370,056 in the last quarter. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source