California Public Employees Retirement System Buys 322,967 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

California Public Employees Retirement System boosted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 24.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,624,450 shares of the company's stock after buying an additional 322,967 shares during the quarter. California Public Employees Retirement System owned 0.15% of SoFi Technologies worth $25,017,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of SoFi Technologies by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after acquiring an additional 8,898,879 shares during the last quarter. State Street Corp raised its position in shares of SoFi Technologies by 1.7% during the third quarter. State Street Corp now owns 18,062,855 shares of the company's stock worth $141,974,000 after purchasing an additional 310,532 shares during the period. Geode Capital Management LLC lifted its holdings in shares of SoFi Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company's stock valued at $138,523,000 after purchasing an additional 358,806 shares during the last quarter. Norges Bank purchased a new position in SoFi Technologies in the 4th quarter worth about $103,678,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of SoFi Technologies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock worth $97,230,000 after buying an additional 167,780 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Needham & Company LLC increased their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. UBS Group increased their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Finally, Morgan Stanley raised their price objective on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research report on Thursday, December 19th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SoFi Technologies currently has a consensus rating of "Hold" and an average target price of $12.50.

SoFi Technologies Stock Down 10.1 %

Shares of SOFI traded down $1.07 during mid-day trading on Friday, hitting $9.57. 89,420,582 shares of the company's stock were exchanged, compared to its average volume of 45,451,428. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 2.24 and a beta of 1.86. The firm has a fifty day moving average of $13.78 and a two-hundred day moving average of $13.30. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the prior year, the business earned $0.04 EPS. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. The trade was a 9.48 % 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 9,185 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,905 shares of company stock worth $1,308,075. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Company 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.