Strs Ohio Reduces Holdings in SoFi Technologies, Inc. $SOFI

Key Points

• Strs Ohio cut its SoFi stake sharply, reducing holdings by 93.1% in the first quarter and selling 389,443 shares. It now owns 29,003 shares valued at about $461,000.
• Analyst sentiment remains mixed despite several firms lowering price targets; SoFi’s consensus rating is currently “Hold” with an average target price of $22.78. Seven analysts rate it Buy, 11 Hold, and 3 Sell.
• SoFi posted solid quarterly results, matching EPS expectations at $0.12 and beating revenue estimates with $1.09 billion, up 42.6% year over year. CEO Anthony Noto also bought shares, while an EVP sold stock under a pre-arranged trading plan.

Strs Ohio reduced its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 93.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,003 shares of the company's stock after selling 389,443 shares during the period. Strs Ohio's holdings in SoFi Technologies were worth $461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SOFI. Valley Wealth Managers Inc. acquired a new stake in SoFi Technologies during the 4th quarter valued at $25,000. Blue Trust Inc. lifted its holdings in SoFi Technologies by 655.2% in the 4th quarter. Blue Trust Inc. now owns 1,012 shares of the company's stock worth $26,000 after buying an additional 878 shares in the last quarter. Vermillion Wealth Management Inc. lifted its holdings in SoFi Technologies by 283.1% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company's stock worth $26,000 after buying an additional 739 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in SoFi Technologies in the 4th quarter valued at about $28,000. Finally, Reflection Asset Management purchased a new position in SoFi Technologies in the 4th quarter valued at about $28,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of analyst reports. Needham & Company LLC dropped their target price on SoFi Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. Citigroup reduced their price target on SoFi Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a report on Monday, May 4th. Wells Fargo & Company reduced their price target on SoFi Technologies from $19.00 to $18.00 and set an "equal weight" rating for the company in a report on Thursday, April 9th. Barclays lowered their price objective on SoFi Technologies from $28.00 to $18.00 and set an "equal weight" rating for the company in a research note on Monday, April 6th. Finally, Stephens dropped their price objective on SoFi Technologies from $26.00 to $25.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Seven investment 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.com, SoFi Technologies has an average rating of "Hold" and an average target price of $22.78.

Insiders Place Their Bets

In other news, CEO Anthony Noto bought 15,545 shares of SoFi Technologies stock in a transaction on Monday, May 11th. The shares were bought at an average price of $16.00 per share, with a total value of $248,720.00. Following the acquisition, the chief executive officer directly owned 11,946,619 shares in the company, valued at approximately $191,145,904. This represents a 0.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 10,954 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $17.35, for a total value of $190,051.90. Following the completion of the sale, the executive vice president owned 378,682 shares of the company's stock, valued at $6,570,132.70. This trade 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. Insiders own 2.50% of the company's stock.

SoFi Technologies Price Performance

SOFI opened at $18.78 on Friday. The company has a market capitalization of $24.09 billion, a P/E ratio of 42.68 and a beta of 2.14. The company has a 50-day moving average of $16.92 and a 200-day moving average of $19.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75. SoFi Technologies, Inc. has a 1-year low of $14.92 and a 1-year high of $32.73.

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

SoFi Technologies Company 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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