On Monday, Cathie Wood-led Ark Invest made a significant purchase in SoFi Technologies SOFI, acquiring 473,225 shares, which equates to 0.4507% of their ARKF ETF. This move comes amid a surge in SoFi’s stock price, as the personal finance company has been trading higher recently.
The SoFi Technologies Trade
On Monday, Ark Invest purchased 473,225 shares of SoFi Technologies through Ark Fintech Innovation ETF ARKF. The transaction was valued at $3.3 million, based on the stock’s closing price of $6.94 on the day.
SoFi has delivered remarkable results in the third quarter of FY23, with an adjusted revenue increase of 27% Y/Y to $530.7 million, beating the consensus of $512.1 million. The company welcomed over 717,000 new members, bringing the total to over 6.9 million, a 47% increase Y/Y. Product count also saw a significant boost, with around 1.047 million new additions in Q3, resulting in over 10.4 million total products, a 45% increase Y/Y.
See Also: Ark Invest’s Cathie Wood Says Nvidia Is ‘Really Expensive’ And ‘Very Obvious’
Other Key Trades:
- Sold 162,743 shares of Discovery Ltd DSY, accounting for 0.1513% of their ARKF ETF.
- Sold 1,807 shares of MercadoLibre Inc MELI, representing 0.3018% of their ARKF ETF.
- Purchased 20,517 shares of Beam Therapeutics Inc BEAM, making up 0.0272% of their ARK Genomic Revolution ETF ARKG.
- Acquired 30,658 shares of 10X Genomics Inc TXG, constituting 0.0761% of their ARKG ETF.
Read Next: Exclusive: Cathie Wood Tells Benzinga Why Tesla Should Trade As A Tech Stock
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