Teacher Retirement System of Texas Invests $2.80 Million in SoFi Technologies, Inc. (NASDAQ:SOFI)

Teacher Retirement System of Texas purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 181,839 shares of the company's stock, valued at approximately $2,800,000.

Other institutional investors have also added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of SoFi Technologies in the 4th quarter worth approximately $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at $28,000. Hollencrest Capital Management bought a new stake in shares of SoFi Technologies in the 4th quarter valued at about $31,000. FNY Investment Advisers LLC lifted its holdings in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after purchasing an additional 1,905 shares in the last quarter. Finally, IAG Wealth Partners LLC bought a new position in SoFi Technologies in the fourth quarter valued at $38,000. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Price Performance

NASDAQ:SOFI traded down $0.35 during trading hours on Friday, reaching $11.85. 51,207,407 shares of the company were exchanged, compared to its average volume of 44,957,955. The company has a market capitalization of $12.99 billion, a P/E ratio of 32.03, a P/E/G ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The business has a 50 day moving average of $14.42 and a 200 day moving average of $13.21. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42.

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SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the previous year, the company earned $0.04 EPS. Research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SOFI. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. UBS Group raised their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Morgan Stanley upped their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research note on Thursday, December 19th. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $12.50.

Insider Activity

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the sale, the executive vice president now owns 178,811 shares of the company's stock, valued at $3,143,497.38. The trade was a 4.75 % 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 corporate insiders.

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.