Strs Ohio Cuts Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Strs Ohio cut its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,778 shares of the company’s stock after selling 15,896 shares during the quarter. Strs Ohio’s holdings in SoFi Technologies were worth $982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SOFI. Westside Investment Management Inc. lifted its holdings in SoFi Technologies by 93.8% during the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after purchasing an additional 1,500 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in SoFi Technologies during the fourth quarter valued at about $60,000. NBC Securities Inc. purchased a new stake in SoFi Technologies during the third quarter valued at about $61,000. Clear Street Markets LLC purchased a new stake in SoFi Technologies during the third quarter valued at about $69,000. Finally, TFC Financial Management Inc. increased its position in shares of SoFi Technologies by 87.0% during the third quarter. TFC Financial Management Inc. now owns 9,457 shares of the company’s stock valued at $76,000 after buying an additional 4,400 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Up 4.6 %

Shares of SOFI opened at $7.58 on Wednesday. The firm has a market cap of $7.40 billion, a P/E ratio of -19.95 and a beta of 1.75. SoFi Technologies, Inc. has a 1 year low of $4.45 and a 1 year high of $11.70. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The stock has a 50 day simple moving average of $7.69 and a two-hundred day simple moving average of $7.90.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $615.40 million during the quarter, compared to analyst estimates of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. On average, analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SOFI has been the topic of several analyst reports. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price target for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Wedbush reiterated an “underperform” rating and set a $3.00 price target on shares of SoFi Technologies in a research report on Wednesday, March 6th. Needham & Company LLC assumed coverage on SoFi Technologies in a research report on Wednesday, April 3rd. They set a “buy” rating and a $10.00 price target on the stock. Citigroup assumed coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, Mizuho decreased their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and an average target price of $9.08.

Insider Activity

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

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.