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.

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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.

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