Victory Capital Management Inc. Buys 134,318 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Victory Capital Management Inc. increased its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 104.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 262,979 shares of the company’s stock after purchasing an additional 134,318 shares during the period. Victory Capital Management Inc.’s holdings in SoFi Technologies were worth $4,050,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Brooklyn Investment Group purchased a new stake in SoFi Technologies in the third quarter worth approximately $28,000. FNY Investment Advisers LLC boosted its stake in SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares in the last quarter. SouthState Corp purchased a new stake in SoFi Technologies in the third quarter worth approximately $67,000. Huntington National Bank boosted its stake in SoFi Technologies by 442.0% in the third quarter. Huntington National Bank now owns 8,856 shares of the company’s stock worth $70,000 after buying an additional 7,222 shares in the last quarter. Finally, Balboa Wealth Partners purchased a new stake in SoFi Technologies in the third quarter worth approximately $82,000. 38.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Eric Schuppenhauer bought 30,600 shares of the company’s stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $16.34 per share, with a total value of $500,004.00. Following the completion of the transaction, the executive vice president now owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. This trade represents a 197.36 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares in the company, valued at approximately $2,926,632.75. The trade was a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,004 shares of company stock worth $1,459,060 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Price Performance

SOFI opened at $12.09 on Friday. The stock has a fifty day simple moving average of $14.89 and a two-hundred day simple moving average of $12.85. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company has a market cap of $13.26 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the prior year, the firm earned $0.04 earnings per share. Research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of analyst reports. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Citigroup increased their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Mizuho increased their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.50.

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.