Victory Capital Management Inc. Increases Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Victory Capital Management Inc. lifted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 6.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 127,342 shares of the company’s stock after purchasing an additional 8,267 shares during the period. Victory Capital Management Inc.’s holdings in SoFi Technologies were worth $842,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of SoFi Technologies by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock worth $604,632,000 after purchasing an additional 1,366,271 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in SoFi Technologies by 6.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock valued at $75,737,000 after acquiring an additional 690,638 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its position in SoFi Technologies by 176.3% during the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after acquiring an additional 6,870,610 shares during the last quarter. Norges Bank purchased a new stake in SoFi Technologies during the fourth quarter valued at approximately $71,349,000. Finally, Dimensional Fund Advisors LP purchased a new stake in SoFi Technologies during the fourth quarter valued at approximately $38,595,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays decreased their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. BTIG Research assumed coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating for the company. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods decreased their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.14.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Down 1.7 %

Shares of SoFi Technologies stock opened at $8.05 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $10.49. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of -25.97, a PEG ratio of 1.48 and a beta of 1.70. The firm’s 50 day simple moving average is $7.32 and its two-hundred day simple moving average is $7.15.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

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.