Stocks
Rakuten Buys New Stake in Goldman Sachs Worth $49.2 Million
Rakuten Investment Management Inc. has acquired a new stake in The Goldman Sachs Group, Inc. (GS) worth approximately $49.2 million after buying 48,251 shares in the second quarter.
The purchase comes as other hedge funds are also making moves in GS stock, with BlackRock Inc. acquiring a new stake valued at $24.17 billion and State Street Corp increasing its position by 2.1% during the fourth quarter.
Goldman Sachs has seen its stock price trade down 0.6% to open at $1,034.35 on Friday, with a current market cap of $301.17 billion and a P/E ratio of 15.96.