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.
