SoFi Technologies, Inc. $SOFI Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 356,808 shares of the company's stock after selling 27,820 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in SoFi Technologies were worth $4,150,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in SoFi Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after buying an additional 1,130,250 shares during the last quarter. CMG Global Holdings LLC grew its holdings in SoFi Technologies by 77.8% during the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after buying an additional 61,443 shares during the last quarter. Nicholas Wealth LLC. acquired a new stake in SoFi Technologies during the 1st quarter valued at $993,000. Sierra Summit Advisors LLC acquired a new stake in SoFi Technologies during the 1st quarter valued at $9,715,000. Finally, NorthRock Partners LLC acquired a new stake in SoFi Technologies during the 1st quarter valued at $172,000. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Trading Down 6.1%

Shares of SOFI opened at $22.75 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $27.24 billion, a P/E ratio of 47.40, a price-to-earnings-growth ratio of 3.00 and a beta of 1.93. The stock's fifty day simple moving average is $19.78 and its 200 day simple moving average is $15.36. SoFi Technologies, Inc. has a twelve month low of $6.75 and a twelve month high of $25.11.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The business had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. During the same period last year, the company posted $0.01 EPS. The business's quarterly revenue was up 42.8% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,267 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $21.80, for a total value of $223,820.60. Following the transaction, the executive vice president directly owned 245,200 shares of the company's stock, valued at $5,345,360. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the transaction, the chief technology officer directly owned 724,321 shares in the company, valued at $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,661 shares of company stock valued at $3,889,103 over the last three months. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

SOFI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their target price on SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. UBS Group raised their price objective on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. JMP Securities restated a "market perform" rating and set a $17.00 price objective on shares of SoFi Technologies in a report on Monday, July 14th. Truist Financial set a $23.00 price objective on SoFi Technologies in a report on Monday, August 4th. Finally, Needham & Company LLC raised their price objective on SoFi Technologies from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $18.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.