Institutional Sentiments and Trading Trends Surrounding SoFi Technologies

2024-03-12

During the quarter ending on December 31, 2023, SoFi Technologies was closely monitored by the investment community. Data from sharkstracker.com revealed that 560 hedge funds collectively held 492,715,291 shares of SoFi, while 20 ETFs owned 21,103,686 shares of the company.

In the same period, 241 hedge funds were actively buying SoFi shares, indicating a strong interest in the company. Conversely, 184 hedge funds were selling their positions. Despite the selling activity, the number of shares bought outweighed those sold, with hedge funds acquiring 55,556,202 shares and selling 57,456,132 shares. Notably, 47 hedge funds doubled down on their positions in SoFi, underscoring their confidence in the company's future prospects. However, 6 hedge funds opted to offload at least 90% of their SoFi shares, signaling a bearish sentiment among some investors.

Among the top institutions holding SoFi shares were Vanguard Group Inc, BlackRock Inc., Silver Lake Group, L.L.C., State Street Corp, and Geode Capital Management, LLC. These institutions maintained significant positions in SoFi, reflecting a long-term investment outlook. On the optimistic side, institutions such as Goldman Sachs Group Inc, Vanguard Group Inc, Millennium Management LLC, Citadel Advisors LLC, and Nikko Asset Management Americas, Inc., expressed bullish sentiments towards SoFi, potentially expecting growth and positive returns. Conversely, some institutions like Susquehanna International Group, LLP, Bank of America Corp, D. E. Shaw & Co., Inc., and Citadel Advisors LLC, held more pessimistic views on SoFi, possibly due to concerns or differing market perspectives.

The data sourced from sharkstracker.com offers a comprehensive and data-driven perspective on the market dynamics surrounding SoFi Technologies. It sheds light on the holdings and trading activities of hedge funds and ETFs, providing valuable insights for investors and market observers alike.