Key Takeaways
- Anthony Noto purchased approximately $250,000 in SOFI shares on May 8, paying $15.73 per share
- Noto has made three separate insider purchases in 2026, with cumulative personal investments exceeding $2 million
- Shares of SOFI are down approximately 40% year-to-date, starting Monday’s session at $15.75
- First quarter results exceeded revenue projections ($1.09B actual vs $1.05B forecast), though annual outlook remained steady
- Wall Street consensus rates the stock as Hold with a $22.72 average price target, suggesting roughly 44% potential upside
SoFi Technologies CEO Anthony Noto executed another insider purchase on May 8, acquiring 15,878 shares of SOFI stock at a weighted average cost of $15.73 per share—a transaction valued at approximately $250,000.
This marks Noto’s third open-market purchase of company shares in 2026, bringing his cumulative personal investment beyond $2 million. His direct ownership position now stands at nearly 11.93 million units.
The purchase followed closely on the heels of SoFi’s first quarter earnings announcement, which delivered strong revenue results but failed to energize the market. The fintech company reported quarterly revenue of $1.09 billion, surpassing Wall Street’s $1.05 billion forecast, while delivering earnings per share of $0.12 that matched analyst expectations.
The company’s revenue growth registered at 42.6% compared to the same period last year. For context, the prior-year quarter delivered $0.06 in earnings per share.
However, these solid results didn’t prevent a selloff. Market participants reacted negatively to management’s decision to maintain existing full-year projections and expressed concerns about cautious language regarding lending market conditions.
SOFI stock began Monday’s trading at $15.75—representing a decline of roughly 40% since the beginning of the year. The shares reached a 12-month peak of $32.73.
Wall Street Adjusts Price Expectations
Multiple research firms revised their price objectives downward in response to the quarterly results. TD Cowen reduced its target from $24 to $18 while maintaining a neutral Hold stance. Needham lowered its forecast from $33 to $25 but preserved its bullish Buy recommendation. Truist adjusted its target from $21 to $20, also sticking with a Hold rating.
Keefe, Bruyette & Woods maintains an Underperform rating alongside a $17 price objective.
The aggregate Wall Street consensus stands at Hold, incorporating seven Buy ratings, eleven Hold ratings, and three Sell recommendations. According to MarketBeat data, the average analyst price target is $22.72.
Institutional Investors Continue Accumulating
CEO purchases aren’t the only sign of confidence. ASR Vermogensbeheer N.V. established a fresh position during the fourth quarter, purchasing 38,206 shares worth approximately $1 million.
Vanguard expanded its holdings by 3.6% in Q4, bringing its total position to over 111 million shares valued at roughly $2.9 billion. State Street increased its stake by 30.7% during the third quarter.
Institutional ownership of SOFI stock currently represents 38.43% of total shares outstanding.
Combined insider buying activity over the previous three months totals $1.3 million, earning SOFI a “Positive” insider sentiment rating from TipRanks.
On the selling side, CTO Jeremy Rishel disposed of 94,958 shares in March at $17.43 per share, while EVP Kelli Keough sold 9,742 shares in April at $19.25 through a pre-established 10b5-1 trading plan.
SoFi has issued fiscal 2026 earnings guidance of $0.60 per share. Analyst consensus projections for the full year sit at $0.59.
The stock’s 50-day moving average currently stands at $17.44, while its 200-day moving average is positioned at $23.09.
