SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 384,628 shares of the company’s stock after selling 8,183 shares during the period. State of New Jersey Common Pension Fund D’s holdings in SoFi Technologies were worth $3,023,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC raised its position in SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares in the last quarter. GAMMA Investing LLC lifted its holdings in SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after acquiring an additional 1,981 shares during the period. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of SoFi Technologies during the 3rd quarter worth $47,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $13.82 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The company has a market cap of $14.73 billion, a PE ratio of 138.20, a price-to-earnings-growth ratio of 2.13 and a beta of 1.60. The company has a 50-day simple moving average of $9.32 and a 200-day simple moving average of $7.81. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $14.44.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 29th. 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 8.38% and a return on equity of 3.79%. The firm had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the previous year, the company earned ($0.03) EPS. SoFi Technologies’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In related news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,636 shares of company stock valued at $904,677 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Barclays boosted their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and an average price target of $9.32.

About SoFi Technologies

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.