Compass largest shareholder dumping more stock 2nd time 2024

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Compass largest shareholder dumping more stock 2nd time 2024

SoftBank Vision Fund, Compass’ largest investor, sold more than $74.5 million worth of the real estate brokerage’s stock.

The sale of 16.9 million shares last week accounted for 18 percent of its total stake in Compass. SoftBank, which invested more than $1 billion in the startup before its IPO in 2021, is left with 15 percent of Compass stock after this latest stock sale.

This was not SoftBank’s first big sale of Compass stock and more are likely to follow, Helfstein said. SoftBank sold off stock in the brokerage in May, June and December 2023, as well as January of this year.

SoftBank’s Compass stock has depreciated in value since its original purchase.

For now, SoftBank remains Compass’ largest investor. It held nearly 92.47 million shares of stock in the company before last Thursday’s sale and now holds 75.6 million, according to SEC filings and Yahoo! Finance. Last week’s sale lowered the Japanese holding company’s stake in Compass to 15.3 percent of outstanding shares.

The brokerage’s next largest owners are Vanguard (58.9 million shares) and Blackrock (22.3 million shares).