CTC Alternative Strategies Ltd. Invests $265,000 in SoFi Technologies, Inc. (NASDAQ:SOFI)

CTC Alternative Strategies Ltd. acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 17,212 shares of the company’s stock, valued at approximately $265,000. SoFi Technologies comprises about 0.3% of CTC Alternative Strategies Ltd.’s portfolio, making the stock its 29th largest holding.

Other hedge funds also recently made changes to their positions in the company. Berkshire Capital Holdings Inc. lifted its holdings in shares of SoFi Technologies by 6,208,000.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company’s stock worth $9,560,000 after acquiring an additional 620,800 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of SoFi Technologies during the 4th quarter worth $3,703,000. Kercheville Advisors LLC bought a new stake in shares of SoFi Technologies during the 4th quarter worth $1,594,000. Baltimore Washington Financial Advisors Inc. lifted its holdings in shares of SoFi Technologies by 12.9% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 592,930 shares of the company’s stock worth $9,131,000 after acquiring an additional 67,779 shares during the last quarter. Finally, Highview Capital Management LLC DE bought a new stake in SoFi Technologies in the fourth quarter worth $1,152,000. 38.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SOFI has been the subject of several recent research reports. UBS Group boosted 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. Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. JMP Securities initiated coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They issued a “market outperform” rating and a $17.00 price target for the company. Barclays boosted their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average target price of $14.38.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $13.09 on Friday. The company has a market cap of $14.47 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84. The company has a 50-day moving average price of $12.20 and a 200-day moving average price of $14.01. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The company had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. During the same period in the prior year, the firm earned $0.02 earnings per share. SoFi Technologies’s revenue was up 32.7% on a year-over-year basis. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 11,520 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total value of $154,137.60. Following the completion of the transaction, the executive vice president now directly owns 203,509 shares of the company’s stock, valued at $2,722,950.42. This represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. The trade was a 9.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,507 shares of company stock valued at $1,283,528 over the last three months. Corporate insiders own 2.60% of the company’s stock.

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.