Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
On Monday, Chief Executive Officer Anthony Noto purchased $504,706 worth of SoFi Technologies, purchasing 108,000 shares at a cost of $4.67 a piece. Before this latest buy, Noto bought SOFI on 17 other occasions during the past twelve months, for a total investment of $11.28M at an average of $4.87 per share. SoFi Technologies Inc is trading trading flat on the day Wednesday. Noto was up about 2.9% on the buy at the high point of today's trading session, with SOFI trading as high as $4.81 in trading on Wednesday.
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