SoFi Stock Jumps After CEO Bets The Bottom Is In: What's Going On?

SoFi Technologies Inc SOFI shares are trading higher Tuesday amid recent insider buying.

What Happened: SoFi CEO Anthony Noto disclosed the purchase of 525,000 shares at an average price of $4.59 per share in a Form 4 filing with the Securities and Exchange Commision late Monday.

According to the filing, Noto bought 225,000 shares on Dec. 15 at prices ranging from $4.535 to $4.69 per share. He bought another 300,000 shares on Dec. 16 at prices ranging from $4.50 to $4.63 per share. 

The filing comes just a week after Noto reported a purchase of more than 1.1 million shares at an average price of $4.42 per share.

Did you know Benzinga has a tool that tracks live insider trading? Check it out here.

Initially known for its student loan refinancing business, SoFi has expanded its product offerings to include personal loans, credit cards, mortgages, investment accounts, financial planning and banking services.

See Also: SoFi's CEO Just Bought $5M In Company Stock — Has The Fintech Hit Rock Bottom?

SOFI Price Action: SoFi has a 52-week high of $16.49 and a 52-week low of $4.24.

The stock was up 4.4% at $4.62 at time of publication, according to Benzinga Pro.

Photo: Thank You from Flickr.