California Public Employees Retirement System Sells 565,659 Shares of SoFi Technologies, Inc. $SOFI

California Public Employees Retirement System lowered its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 24.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,759,455 shares of the company’s stock after selling 565,659 shares during the period. California Public Employees Retirement System’s holdings in SoFi Technologies were worth $27,940,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its stake in SoFi Technologies by 232.1% in the first quarter. Cornerstone Planning Group LLC now owns 2,099 shares of the company’s stock valued at $34,000 after buying an additional 1,467 shares during the period. Assetmark Inc. grew its position in shares of SoFi Technologies by 134.1% during the 1st quarter. Assetmark Inc. now owns 4,785 shares of the company’s stock worth $76,000 after buying an additional 2,741 shares during the period. Independent Financial Group LLC acquired a new stake in shares of SoFi Technologies during the 1st quarter worth approximately $1,376,000. Wealthfront Advisers LLC increased its stake in shares of SoFi Technologies by 10.6% in the 1st quarter. Wealthfront Advisers LLC now owns 184,228 shares of the company’s stock valued at $2,926,000 after acquiring an additional 17,594 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in shares of SoFi Technologies by 22.2% in the 1st quarter. D.A. Davidson & CO. now owns 267,848 shares of the company’s stock valued at $4,253,000 after acquiring an additional 48,682 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Needham & Company LLC decreased their price target on shares of SoFi Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. UBS Group dropped their price objective on shares of SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Morgan Stanley set a $16.00 price objective on shares of SoFi Technologies in a research report on Thursday, April 30th. Finally, Weiss Ratings downgraded SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.78.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $17.64 on Wednesday. The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. SoFi Technologies, Inc. has a twelve month low of $14.92 and a twelve month high of $32.73. The stock’s 50 day moving average is $17.15 and its 200-day moving average is $18.98. The firm has a market capitalization of $22.63 billion, a price-to-earnings ratio of 40.09 and a beta of 2.14.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted $0.06 EPS. SoFi Technologies’s revenue was up 42.6% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, CEO Anthony Noto acquired 15,545 shares of the company’s stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $16.00 per share, with a total value of $248,720.00. Following the completion of the purchase, the chief executive officer owned 11,946,619 shares of the company’s stock, valued at approximately $191,145,904. This represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 10,954 shares of SoFi Technologies stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $17.35, for a total transaction of $190,051.90. Following the transaction, the executive vice president owned 378,682 shares of the company’s stock, valued at $6,570,132.70. This represents a 2.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 124,302 shares of company stock worth $2,182,523. Insiders own 2.50% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.