Teacher Retirement System of Texas Raises Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Teacher Retirement System of Texas grew its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 36.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 247,693 shares of the company's stock after purchasing an additional 65,854 shares during the period. Teacher Retirement System of Texas' holdings in SoFi Technologies were worth $2,881,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in SoFi Technologies during the fourth quarter worth about $27,000. Hollencrest Capital Management purchased a new stake in SoFi Technologies during the fourth quarter worth about $31,000. Garde Capital Inc. purchased a new stake in SoFi Technologies during the first quarter worth about $31,000. Mpwm Advisory Solutions LLC purchased a new stake in SoFi Technologies during the fourth quarter worth about $32,000. Finally, IAG Wealth Partners LLC purchased a new stake in SoFi Technologies during the fourth quarter worth about $38,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SOFI shares. Citizens Jmp started coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set an "outperform" rating and a $17.00 price target on the stock. Truist Financial started coverage on shares of SoFi Technologies in a research note on Monday, June 2nd. They set a "hold" rating and a $14.00 target price on the stock. Barclays upped their target price on shares of SoFi Technologies from $12.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Tuesday. UBS Group upped their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, Stephens started coverage on shares of SoFi Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $15.13.

Insider Activity

In other news, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the sale, the director directly owned 289,258 shares of the company's stock, valued at approximately $4,162,422.62. This represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 10,267 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $15.22, for a total value of $156,263.74. Following the completion of the sale, the executive vice president directly owned 255,467 shares of the company's stock, valued at $3,888,207.74. The trade was a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 274,095 shares of company stock valued at $3,939,168. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Stock Performance

Shares of SOFI opened at $19.95 on Wednesday. The stock has a 50 day moving average price of $14.66 and a 200 day moving average price of $14.09. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $22.05 billion, a price-to-earnings ratio of 48.66, a price-to-earnings-growth ratio of 3.26 and a beta of 1.91. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $20.89.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The firm's quarterly revenue was up 32.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 earnings per share. Research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

About SoFi Technologies

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.

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