Victory Capital Management Inc. Acquires 1,319 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Victory Capital Management Inc. boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 128,661 shares of the company’s stock after purchasing an additional 1,319 shares during the period. Victory Capital Management Inc.’s holdings in SoFi Technologies were worth $1,011,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies during the third quarter valued at about $27,000. Allspring Global Investments Holdings LLC raised its stake in shares of SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of SoFi Technologies by 65.3% during 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 last quarter. Waldron Private Wealth LLC bought a new position in shares of SoFi Technologies during the third quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of SoFi Technologies during the third quarter valued at about $47,000. 38.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several recent analyst reports. Jefferies Financial Group upped their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Barclays upped their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Mizuho boosted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average price target of $9.80.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,287 shares of company stock worth $863,250. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Price Performance

Shares of SOFI opened at $16.12 on Thursday. The stock has a market cap of $17.49 billion, a PE ratio of 161.42, a price-to-earnings-growth ratio of 2.61 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $16.16. The firm’s 50-day simple moving average is $10.74 and its two-hundred day simple moving average is $8.34.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share. Analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

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.