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

Victory Capital Management Inc. grew its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,661 shares of the company’s stock after buying an additional 1,319 shares during the quarter. Victory Capital Management Inc.’s holdings in SoFi Technologies were worth $1,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. increased its stake in shares of SoFi Technologies by 341.0% during the 1st quarter. Russell Investments Group Ltd. now owns 43,624 shares of the company’s stock worth $318,000 after purchasing an additional 33,732 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of SoFi Technologies by 105.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 182,804 shares of the company’s stock worth $1,335,000 after purchasing an additional 93,766 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of SoFi Technologies by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 535,894 shares of the company’s stock worth $3,913,000 after purchasing an additional 37,984 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of SoFi Technologies by 13.7% during the 1st quarter. Janus Henderson Group PLC now owns 457,322 shares of the company’s stock worth $3,336,000 after purchasing an additional 55,182 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in shares of SoFi Technologies by 5.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 127,136 shares of the company’s stock worth $1,016,000 after purchasing an additional 6,488 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,287 shares of company stock valued at $863,250. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Up 4.1 %

SOFI opened at $16.12 on Thursday. The company has a fifty day moving average price of $10.74 and a 200-day moving average price of $8.34. The firm has a market capitalization of $17.49 billion, a P/E 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 current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $16.16.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same period in the previous year, the business earned ($0.03) EPS. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. Equities research analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SOFI. Jefferies Financial Group raised their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Barclays lifted 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 lifted their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC lifted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average target price of $9.80.

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.