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On Monday, Cathie Wood-led Ark Invest made a significant purchase in SoFi Technologies (NASDAQ: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 (NYSE: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:
Read Next: Exclusive: Cathie Wood Tells Benzinga Why Tesla Should Trade As A Tech Stock
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