PNC Financial Services Group Inc. Purchases 3,980 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

PNC Financial Services Group Inc. increased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,993 shares of the company’s stock after purchasing an additional 3,980 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SoFi Technologies were worth $326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Mpwm Advisory Solutions LLC bought a new position in SoFi Technologies in the fourth quarter worth about $32,000. Hazlett Burt & Watson Inc. grew its holdings in shares of SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after acquiring an additional 2,200 shares during the period. Garde Capital Inc. purchased a new position in shares of SoFi Technologies during the 1st quarter worth approximately $31,000. Larson Financial Group LLC raised its position in shares of SoFi Technologies by 127.1% in the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company’s stock worth $32,000 after acquiring an additional 1,519 shares in the last quarter. Finally, Elequin Capital LP lifted its stake in shares of SoFi Technologies by 30.1% in the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock valued at $42,000 after purchasing an additional 631 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $23.77 on Friday. The firm has a market cap of $26.27 billion, a P/E ratio of 49.52, a PEG ratio of 2.88 and a beta of 1.93. SoFi Technologies, Inc. has a twelve month low of $6.75 and a twelve month high of $25.11. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $19.41 and a 200 day moving average of $15.27.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%. The business had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. During the same quarter last year, the company earned $0.01 EPS. The company’s quarterly revenue was up 42.8% compared to the same quarter last year. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction that occurred on 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 sale, the director directly owned 289,258 shares in the company, valued at $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 10,267 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $21.80, for a total transaction of $223,820.60. Following the transaction, the executive vice president directly owned 245,200 shares of the company’s stock, valued at $5,345,360. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 273,181 shares of company stock worth $4,043,240. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JMP Securities reaffirmed a “market perform” rating and issued a $17.00 price target on shares of SoFi Technologies in a research note on Monday, July 14th. Cowen began coverage on shares of SoFi Technologies in a report on Friday, July 11th. They set a “hold” rating on the stock. Truist Financial set a $23.00 target price on shares of SoFi Technologies in a research report on Monday, August 4th. UBS Group increased their price target on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Finally, Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.29.

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.