SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Purchased by Victory Capital Management Inc.

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hudock Inc. acquired a new stake in SoFi Technologies during the second quarter valued at $612,000. Founders Financial Securities LLC grew its position in SoFi Technologies by 8.0% during the second quarter. Founders Financial Securities LLC now owns 27,060 shares of the company’s stock valued at $179,000 after buying an additional 2,000 shares during the period. Rhumbline Advisers grew its position in SoFi Technologies by 5.7% during the second quarter. Rhumbline Advisers now owns 979,183 shares of the company’s stock valued at $6,472,000 after buying an additional 53,124 shares during the period. CIBC Asset Management Inc grew its position in SoFi Technologies by 29.6% during the second quarter. CIBC Asset Management Inc now owns 27,447 shares of the company’s stock valued at $181,000 after buying an additional 6,269 shares during the period. Finally, Aptus Capital Advisors LLC grew its position in SoFi Technologies by 3.1% during the second quarter. Aptus Capital Advisors LLC now owns 258,565 shares of the company’s stock valued at $1,709,000 after buying an additional 7,740 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $8.05 on Friday. The company’s 50-day moving average price is $7.32 and its 200-day moving average price is $7.15. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The company has a market cap of $8.51 billion, a P/E ratio of -25.97, a P/E/G ratio of 1.48 and a beta of 1.70. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $10.49.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the firm posted ($0.06) earnings per share. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SOFI shares. BTIG Research started coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a report on Wednesday, July 31st. Barclays decreased their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $9.14.

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.