PNC Financial Services Group Inc. Increases Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

PNC Financial Services Group Inc. boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,013 shares of the company’s stock after buying an additional 1,740 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SoFi Technologies were worth $370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SOFI. Captrust Financial Advisors boosted its holdings in shares of SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after buying an additional 809 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in SoFi Technologies by 0.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after purchasing an additional 855 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after acquiring an additional 962 shares during the last quarter. Procyon Advisors LLC grew its position in shares of SoFi Technologies by 8.0% during the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock valued at $208,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Game Plan Financial Advisors LLC increased its stake in SoFi Technologies by 13.9% in the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock worth $128,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Down 0.7 %

Shares of SOFI opened at $12.64 on Friday. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The company has a market capitalization of $13.86 billion, a price-to-earnings ratio of 34.16, a PEG ratio of 2.24 and a beta of 1.79. The stock’s 50-day moving average price is $14.70 and its 200-day moving average price is $12.94. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company earned $0.04 EPS. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now owns 169,626 shares of the company’s stock, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 27,013 shares of company stock valued at $437,402 over the last quarter. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup boosted their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. UBS Group raised their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Needham & Company LLC lifted their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group raised their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.50.

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.