The Vanguard Group, Inc. recently announced the acquisition of new stake in Opendoor Technologies Inc (NASDAQ:OPEN). The institutional investor has increased its shareholding in the Real Estate company by 7.24% to 78.87 million shares with purchase of 5.32 million shares. This fresh investment now brings its stake to 11.77% valued currently at $237.39 million. In addition, Renaissance Technologies LLC raised its holdings by 9.03 million to 26.81 million shares.
With over 21.67 million Opendoor Technologies Inc (OPEN) shares trading Friday and a closing price of $4.48 on the day, the dollar volume was approximately $97.09 million. The shares have shown a positive half year performance of 11.44% and its price on 12/29/23 lost nearly -4.07%. Currently, there are 637.39M common shares owned by the public and among those 544.05M shares have been available to trade.
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Insiders at the company have transacted a total of 70 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 15,844,127 shares. Insider sales of the common stock occurred on 58 occasions, with total insider shares sold totaling 15,019,625 shares.
The top 3 mutual fund holders in Opendoor Technologies Inc are Vanguard Real Estate Index Fund, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. Vanguard Real Estate Index Fund owns 21.39 million shares of the company’s stock, all valued at over $64.4 million. The company sold -0.2 million shares recently to bring their total holdings to about 3.19% of the shares outstanding. Vanguard Total Stock Market ETF bought 26029.0 shares to see its total holdings expand to 16.41 million shares valued at over $49.4 million and representing 2.45% of the shares outstanding. Vanguard Small Cap Index Fund bought 41878.0 shares to bring its total holdings to over 13.66 million shares at a value of $41.1 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.04% of the shares outstanding.
Shares of Opendoor Technologies Inc (NASDAQ: OPEN) opened at $4.62, down -$0.05 from a prior closing price of $4.67. However, the script later moved the day high at 4.6900, down -4.07%. The company’s stock has a 5-day price change of 6.67% and 69.70% over the past three months. OPEN shares are trading 286.21% year to date (YTD), with the 12-month market performance up to 326.67% higher. It has a 12-month low price of $1.03 and touched a high of $5.41 over the same period. OPEN has an average intraday trading volume of 19.36 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.68%, 52.58%, and 56.67% respectively.
Institutional ownership of Opendoor Technologies Inc (NASDAQ: OPEN) shares accounts for 59.36% of the company’s 637.39M shares outstanding. Mutual fund holders own 27.38%, while other institutional holders and individual stakeholders account for 31.99% and 21.72% respectively.
It has a market capitalization of $3.00B and a beta (3y monthly) value of 2.78. The earnings-per-share (ttm) stands at -$0.91. The company has a debt-to-equity ratio at 2.80. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.69% over the week and 9.03% over the month.
Analysts forecast that Opendoor Technologies Inc (OPEN) will achieve an EPS of -$0.18 for the current quarter, -$0.16 for the next quarter and -$0.55 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.2 while analysts give the company a high EPS estimate of -$0.16. Comparatively, EPS for the current quarter was -$0.63 a year ago. Earnings per share for the fiscal year are expected to increase by 72.55%, and -20.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Opendoor Technologies Inc (OPEN) as a “Moderate Buy” at a consensus score of 2.92. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 8 of the 12 advise that investors “hold,” and 1 rated it as a “Sell.”
