Victory Capital Management Inc. Has $4.05 Million Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Victory Capital Management Inc. increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 104.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,979 shares of the company's stock after purchasing an additional 134,318 shares during the quarter. Victory Capital Management Inc.'s holdings in SoFi Technologies were worth $4,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SOFI. State Street Corp grew its stake in shares of SoFi Technologies by 1.7% during the third quarter. State Street Corp now owns 18,062,855 shares of the company's stock valued at $141,974,000 after purchasing an additional 310,532 shares during the last quarter. Geode Capital Management LLC boosted its holdings in SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company's stock valued at $138,523,000 after acquiring an additional 358,806 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in SoFi Technologies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock worth $97,230,000 after purchasing an additional 167,780 shares during the period. Azora Capital LP raised its holdings in SoFi Technologies by 8.8% during the 3rd quarter. Azora Capital LP now owns 4,348,068 shares of the company's stock worth $34,176,000 after purchasing an additional 352,901 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Activity

In related news, EVP Kelli Keough sold 8,914 shares of the company's 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. This represents a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares of the company's stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,004 shares of company stock valued at $1,459,060 over the last three months. Insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Needham & Company LLC raised their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Finally, Mizuho boosted their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $12.50.

SoFi Technologies Stock Up 6.1 %

Shares of NASDAQ SOFI traded up $0.70 during mid-day trading on Friday, hitting $12.09. The company had a trading volume of 37,340,434 shares, compared to its average volume of 46,843,879. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42. The company has a market capitalization of $13.26 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. 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 firm has a 50-day simple moving average of $14.89 and a two-hundred day simple moving average of $12.85.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS 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 period in the prior year, the firm posted $0.04 earnings per share. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current 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.