SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 24,013 shares of the company’s stock after purchasing 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 institutional investors have also modified their holdings of the company. State Street Corp grew its stake in SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after purchasing an additional 310,532 shares in the last quarter. Geode Capital Management LLC grew its stake in SoFi Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after buying an additional 358,806 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in SoFi Technologies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company’s stock valued at $97,230,000 after purchasing an additional 167,780 shares during the last quarter. Azora Capital LP boosted its stake in shares of SoFi Technologies by 8.8% during the third quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock worth $34,176,000 after buying an additional 352,901 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of SoFi Technologies by 214.9% in 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 last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now owns 178,811 shares in the company, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 27,013 shares of company stock valued at $437,402 in the last quarter. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. upped their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. The Goldman Sachs Group upped their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Finally, Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Trading Down 0.7 %

Shares of SOFI opened at $12.64 on Friday. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market capitalization of $13.86 billion, a P/E ratio of 34.16, a P/E/G ratio of 2.24 and a beta of 1.79. The stock has a 50-day moving average price of $14.70 and a 200 day moving average price of $12.94.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (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 quarter in the previous year, the company earned $0.04 EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS 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.