PNC Financial Services Group Inc. Raises Position in SoFi Technologies, Inc. $SOFI

PNC Financial Services Group Inc. lifted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 203.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,880 shares of the company’s stock after purchasing an additional 56,887 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SoFi Technologies were worth $1,546,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Soltis Investment Advisors LLC lifted its position in SoFi Technologies by 1.8% in the second quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company’s stock worth $518,000 after buying an additional 501 shares during the last quarter. AE Wealth Management LLC increased its position in SoFi Technologies by 2.8% during the second quarter. AE Wealth Management LLC now owns 18,620 shares of the company’s stock valued at $339,000 after acquiring an additional 514 shares during the last quarter. Burney Co. raised its stake in shares of SoFi Technologies by 0.4% in the second quarter. Burney Co. now owns 147,136 shares of the company’s stock valued at $2,679,000 after acquiring an additional 557 shares during the period. Drive Wealth Management LLC lifted its holdings in shares of SoFi Technologies by 1.4% in the 2nd quarter. Drive Wealth Management LLC now owns 40,546 shares of the company’s stock worth $738,000 after acquiring an additional 563 shares during the last quarter. Finally, USAdvisors Wealth Management LLC boosted its stake in shares of SoFi Technologies by 4.5% during the 2nd quarter. USAdvisors Wealth Management LLC now owns 16,200 shares of the company’s stock worth $295,000 after purchasing an additional 700 shares during the period. Institutional investors own 38.43% of the company’s stock.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the sale, the chief technology officer owned 759,553 shares in the company, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 10,036 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $28.33, for a total value of $284,319.88. Following the transaction, the executive vice president owned 275,374 shares in the company, valued at approximately $7,801,345.42. This trade represents a 3.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 118,805 shares of company stock valued at $3,279,080. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on SOFI. Keefe, Bruyette & Woods boosted their target price on SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, October 29th. Barclays boosted their target price on shares of SoFi Technologies from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Needham & Company LLC upped their target price on shares of SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Citigroup lifted their price target on shares of SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.06.

SoFi Technologies Trading Up 1.8%

Shares of NASDAQ:SOFI opened at $26.72 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $32.22 billion, a PE ratio of 49.48, a P/E/G ratio of 2.56 and a beta of 1.93. SoFi Technologies, Inc. has a 12-month low of $8.60 and a 12-month high of $32.73. The business’s fifty day simple moving average is $28.17 and its 200-day simple moving average is $22.13.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $949.63 million for the quarter, compared to the consensus estimate of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share 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.