Arizona State Retirement System Buys 4,596 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Arizona State Retirement System lifted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.6% in the fourth quarter, HoldingsChannel reports. The fund owned 293,794 shares of the company’s stock after acquiring an additional 4,596 shares during the period. Arizona State Retirement System’s holdings in SoFi Technologies were worth $4,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after purchasing an additional 2,688,847 shares during the period. Quadrature Capital Ltd bought a new position in SoFi Technologies in the 3rd quarter worth approximately $16,014,000. Zacks Investment Management bought a new position in SoFi Technologies in the 3rd quarter worth approximately $3,766,000. Point72 DIFC Ltd bought a new position in SoFi Technologies in the 3rd quarter worth approximately $3,219,000. Finally, Rockefeller Capital Management L.P. boosted its stake in SoFi Technologies by 20.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company’s stock worth $17,365,000 after purchasing an additional 376,899 shares during the period. 38.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 9,185 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the transaction, the executive vice president now directly owns 169,626 shares in the company, valued at $2,617,329.18. The trade was a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,004 shares of company stock valued at $2,292,100 in the last quarter. 2.60% of the stock is owned by insiders.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock opened at $12.59 on Friday. The stock’s fifty day moving average is $15.24 and its two-hundred day moving average is $12.71. The company has a market capitalization of $13.81 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. 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 52 week low of $6.01 and a 52 week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 prior year, the firm posted $0.04 EPS. As a group, analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analyst Ratings Changes

SOFI has been the subject of several recent analyst reports. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. upped their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. The Goldman Sachs Group upped their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Citigroup upped their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $12.50.

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.