Victory Capital Management Inc. Raises Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Key Points

• Victory Capital Management Inc. has increased its stake in SoFi Technologies by 34.0%, now holding 352,482 shares worth approximately $4.1 million.
• A significant number of other hedge funds, such as Two Sigma Advisers LP and Norges Bank, have recently made large investments in SoFi Technologies, indicating growing institutional interest.
• Analysts have mixed views on SoFi Technologies, with three sell ratings, nine hold ratings, and six buy ratings, reflecting a consensus rating of "Hold" with an average price target of $16.78.

Victory Capital Management Inc. increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 34.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 352,482 shares of the company's stock after acquiring an additional 89,503 shares during the quarter. Victory Capital Management Inc.'s holdings in SoFi Technologies were worth $4,099,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SOFI. Two Sigma Advisers LP acquired a new stake in SoFi Technologies during the fourth quarter worth approximately $299,980,000. Norges Bank acquired a new stake in SoFi Technologies during the fourth quarter worth approximately $103,678,000. Voloridge Investment Management LLC acquired a new stake in SoFi Technologies during the fourth quarter worth approximately $75,139,000. First Trust Advisors LP boosted its position in SoFi Technologies by 583.6% during the fourth quarter. First Trust Advisors LP now owns 2,686,667 shares of the company's stock worth $41,375,000 after acquiring an additional 2,293,622 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in SoFi Technologies during the fourth quarter worth approximately $26,755,000. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Activity

In other news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the transaction, the director directly owned 289,258 shares of the company's stock, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 11,520 shares of SoFi Technologies stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total transaction of $154,137.60. Following the completion of the transaction, the executive vice president directly owned 203,509 shares of the company's stock, valued at $2,722,950.42. This trade represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 273,181 shares of company stock valued at $4,043,240. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Citizens Jmp lowered shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 14th. Truist Financial lifted their price target on shares of SoFi Technologies from $14.00 to $20.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Stephens assumed coverage on shares of SoFi Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price target on the stock. TD Cowen assumed coverage on shares of SoFi Technologies in a report on Friday, July 11th. They issued a "hold" rating and a $21.00 price target on the stock. Finally, JMP Securities reiterated a "market perform" rating and issued a $17.00 price target on shares of SoFi Technologies in a report on Monday, July 14th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $16.78.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $21.20 on Monday. The firm has a market cap of $23.43 billion, a P/E ratio of 51.71, a P/E/G ratio of 3.58 and a beta of 1.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $22.74. The firm has a fifty day moving average of $16.73 and a two-hundred day moving average of $14.62.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The firm's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the business earned $0.02 EPS. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

SoFi Technologies 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.

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