VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.94 Million in SoFi Technologies, Inc. $SOFI

Key Points

• The Virginia Retirement Systems invested approximately $1.94 million in SoFi Technologies, purchasing 106,695 shares during Q2.
• Several institutional investors have significantly increased their positions in SoFi Technologies, including Hazlett Burt & Watson, which grew its holdings by 2,200% in the first quarter.
• Analyst ratings for SoFi Technologies vary, with an average rating of "Hold" and a consensus price target of $20.71.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 106,695 shares of the company's stock, valued at approximately $1,943,000.

Several other institutional investors have also made changes to their positions in SOFI. Hazlett Burt & Watson Inc. grew its position in SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after purchasing an additional 2,200 shares in the last quarter. Headlands Technologies LLC purchased a new position in SoFi Technologies during the first quarter valued at approximately $28,000. SVB Wealth LLC purchased a new position in SoFi Technologies during the first quarter valued at approximately $28,000. Larson Financial Group LLC grew its position in SoFi Technologies by 127.1% during the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock valued at $32,000 after purchasing an additional 1,519 shares in the last quarter. Finally, MCF Advisors LLC grew its position in SoFi Technologies by 119.3% during the first quarter. MCF Advisors LLC now owns 3,072 shares of the company's stock valued at $36,000 after purchasing an additional 1,671 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of SoFi Technologies from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Barclays boosted their price objective on shares of SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Rothschild & Co Redburn initiated coverage on shares of SoFi Technologies in a research report on Friday, August 1st. They set a "neutral" rating and a $20.50 price objective on the stock. Keefe, Bruyette & Woods lifted their target price on shares of SoFi Technologies from $14.00 to $18.00 and gave the company an "underperform" rating in a research note on Wednesday, October 15th. Finally, The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $20.71.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the sale, the chief technology officer directly owned 759,553 shares in the company, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 10,036 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.86, for a total transaction of $279,602.96. Following the completion of the sale, the executive vice president owned 285,410 shares of the company's stock, valued at $7,951,522.60. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,347 shares of company stock valued at $3,228,852 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $28.75 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $34.43 billion, a PE ratio of 59.90, a price-to-earnings-growth ratio of 3.41 and a beta of 1.92. The company has a 50 day moving average price of $26.36 and a two-hundred day moving average price of $19.47. SoFi Technologies, Inc. has a 12-month low of $8.60 and a 12-month high of $30.30.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million during the quarter, compared to analysts' expectations of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The company's revenue was up 42.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

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.

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