Updates stock activity to market open, adds analyst commentary

** Shares of online personal finance co SoFi Technologies SOFI.O down 4.2% to $21.46 early Weds after overnight follow-on priced

** San Francisco-based SOFI late Tues announced ~71.9 mln shares at $20.85 for $1.5 bln gross raise

** Offering priced at 6.9% discount to stock's last sale

** SOFI plans to use net proceeds for general purposes, "including working capital and other business opportunities," per a statement

** Goldman Sachs and Mizuho are underwriters for the offering

** SOFI shares on Tues finished up 6.6% after it posted Q2 beat as fee-based rev grew 72% y/y, and co hiked its annual forecasts

** Stephens analyst Melissa Roberts says capital raise qualifies for immediate adjustment in market indexes, and estimates aggregate passive demand for 2.7 mln SOFI shares after market close on Fri, Aug 1

** With ~1.11 bln shares outstanding, SOFI has ~$24 bln market cap

** Including move on the session, shares up ~39% YTD

** Of 21 analysts covering SOFI, recommendation breakdown is 7 "strong buy" or "buy", 10 "hold" and 4 "sell" or "strong sell" and median PT is $18, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))