Public Employees Retirement System of Ohio Cuts Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Public Employees Retirement System of Ohio lowered its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 374,211 shares of the company’s stock after selling 18,640 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in SoFi Technologies were worth $2,941,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in SoFi Technologies during the third quarter valued at about $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies during the 3rd quarter valued at about $28,000. Allspring Global Investments Holdings LLC raised its holdings in shares of SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares in the last quarter. Waldron Private Wealth LLC bought a new stake in SoFi Technologies in the 3rd quarter worth approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in SoFi Technologies in the third quarter worth approximately $47,000. 38.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Eric Schuppenhauer bought 30,600 shares of the stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $16.34 per share, with a total value of $500,004.00. Following the completion of the acquisition, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. The trade was a 197.36 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 26,012,748 shares of company stock worth $416,356,356. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $16.88 on Tuesday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average of $13.00 and a 200 day moving average of $9.22. The firm has a market capitalization of $18.32 billion, a price-to-earnings ratio of 168.80, a PEG ratio of 2.65 and a beta of 1.77. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $17.04.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SOFI shares. The Goldman Sachs Group boosted their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC boosted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Bank of America reaffirmed an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.50.

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.