Utah-based Wasatch Advisors acquired the largest new position in the brokerage, paying $9.5 million for around 4 million shares, followed by Boston-based Geode Capital with a $6 million investment. BlackRock, meanwhile, bought 11.2 million shares, increasing its stake in the company to three percent. Vanguard, which recently acquired 13.8 million shares, now owns 7.4 percent of Compass. Two major money managers, BlackRock and Vanguard, have upped their stake in the brokerage. According to the analysis, it owns nearly a third of Compass. 5 that its losses on Compass at the time exceeded $500 million. LINKEDIN STOCK PRINCE SERIESIt also co-led Compass’ $400 million Series F round in December 2018 (at a $4.4 billion valuation) and its $500 million Series G round in November 2019 (at a $6.4 billion valuation). The company’s largest shareholder is SoftBank, which co-led its $550 million Series E round in December 2017, which valued the brokerage at $2.2 billion, according to PitchBook. Its stock price as of June 30, when these disclosures were filed, was $3.6. Compass went public in April 2021 with a stock price of $20. The numbers indicate that at least among the biggest players, there’s a sense that there’s a bargain to be had. Meanwhile, a total of 25 investors made no changes to their holdings. Sixty-five investors reduced their holdings, while 38 exited their stakes entirely. The disclosures, which were filed at the end of second quarter, show that 68 of them have taken new positions in Compass, while 109 have increased their holdings in the firm. Institutional investors collectively own $665 million of Compass’ Class A common stock, or about two-thirds of the outstanding shares, according to the analysis, which defined institutional investors as those managing north of $100 million. Several dozen institutional investors have taken up positions in the residential brokerage as of the end of the second quarter, according to an analysis of SEC data by Nasdaq. When it comes to Compass, the whales are buying the dip. (Illustration by The Real Deal with Getty Images)
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