SOFI stock (NASDAQ: SOFI) was trading at $5.74 during the Friday, March 24 trading session with a nominal downward movement. According to data from TradingView, Sofi stock dipped 10.31% in one month.
Sofi technology Inc. generated $425.62 million in the fourth quarter of 2022, which is 3.96% less than the estimated revenue for the last quarter of 2022. The estimated revenue for the first quarter of 2023 is $439.7. Sofi stock has an average trading volume of 31.72 million with a yearly trading range of $5.64- $5.83, with a market capitalization of $5.36 million.
SoFi CEO Anthony Noto bought $240,000 worth of stock in the financial services platform. He purchased 45,000 shares of SOFI at an average price of $5.3936. The CEO bought shares to counter the selling pressure and create a positive outlook.
Noto also wanted to help the company revive after Silicon Valley Bank’s (SVB) collapse. As such, he bought shares to counter the selling pressure and create a positive outlook.
Over 576 Institutional holders hold SOFI shares. Major investors are Vanguard Group Inc., which holds 68,270,315; BlackRock Inc. holds 35,647,665; Silver Lake Group holds 31,154,165 shares; Morgan Stanley holds 6,145,664 shares; JPMorgan Chase & Co holds 3,765,222; and Goldman Sachs Group Inc holds 2,896,366, and several others.
Sofi technology has raised funds in 19 different rounds; over 43 investors participated in these funding rounds.
Sofi Technology Inc. was founded in 2011 by Mike Cagney, Dan Macklin, James Finnigan, and Ian Brady – the four met each other while studying at Stanford Graduate School of Business.
According to data from Crunchbase, a website providing public and private sector business information, Sofi technology has invested in over 11 companies, including BlockFi, Wage, and Indigo Diabetes. Sofi is a lead investor of PieSync.
Technical Levels
Major Support: $5.09 and $4.24
Major Resistance: $7.00 and $8.24
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/03/27/will-sofi-stock-nasdaq-sofi-price-hold-or-slip-further/