Why Are People Buying SOFI Shares?

Shares of SoFi Technologies rose to $9.68 during today's afternoon trading session. Despite the 3.5% change, the mid-cap Closed End Fund company still trades 6.09% above its average analyst target price of $9.12. So there may be further downside for the Closed End Fund stock. SoFi Technologies has target prices ranging from $3.0 to $15.0 per share, and its average rating is hold.

The stock has an unusually large proportion of its shares sold short at 15.9%, and a short ratio of 3.08. Since 3.93% of the company's shares are owned by insiders, we can infer that there is a degree of alignment between management and shareholder interests. Finally, we also note that only a small number of institutional investors are invested in the stock, with 39.2% of SoFi Technologies's shares being owned by this investor type.

Institutions Invested in SoFi Technologies

Date Reported Holder Percentage Shares Value
2023-09-30 Vanguard Group Inc 8% 76,402,753 $739,196,649
2023-09-30 Blackrock Inc. 4% 40,771,997 $394,469,078
2023-09-30 Silver Lake Group, LLC 3% 31,154,165 $301,416,552
2023-09-30 Two Sigma Investments, LP 2% 15,163,244 $146,704,388
2023-09-30 State Street Corporation 2% 14,970,515 $144,839,735
2023-09-30 Geode Capital Management, LLC 1% 14,264,817 $138,012,107
2023-09-30 Two Sigma Advisers, LP 1% 14,170,900 $137,103,460
2022-12-31 Norges Bank Investment Management 1% 9,717,705 $94,018,797
2023-09-30 Morgan Stanley 1% 8,814,745 $85,282,659
2023-09-30 Goldman Sachs Group Inc 1% 7,050,104 $68,209,757

Besides an analyst consensus of little upside potential, other market factors point to there being negative market sentiment on SoFi Technologies.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.