SoFi: Major Insider Buying And The Big Banks Are Buying Also Per 13F Filings

Summary

• SOFI's CEO, Anthony Noto, has made 10 insider purchases since 3/4/22, and other insiders have been accumulating shares as well.
• The Q1 13F filings indicate there was a large amount of institutional buying as companies such as Morgan Stanley loaded up on shares of SOFI.
• The sooner President Biden makes a decision on student debt the better. If $10,000 is eliminated, it's bullish for SOFI because the payments will start again.
• Once the payments start again, the remaining balance will still be solvent, and we will see many individuals refinancing the balance of their loans.

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It's been an unprofitable ride for many shareholders of SoFi Technologies (NASDAQ:SOFI). Shares reached $24.95 in November after Q3 earnings and bottomed at $4.82 roughly 6 months later. This has been an agonizing decline for investors with a

Analyst’s Disclosure:I/we have a beneficial long position in the shares of SOFI, C, BAC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Disclaimer: I am not an investment advisor or professional. This article is my own personal opinion and is not meant to be a recommendation of the purchase or sale of stock. Investors should conduct their own research before investing to see if the companies discussed in this article fit into their portfolio parameters.