Key Takeaways
- Anthony Noto acquired approximately $250,000 in SOFI shares on May 8 at an average price of $15.73
- Noto has now made three insider purchases in 2026, with cumulative investments exceeding $2 million
- Shares of SOFI have declined approximately 40% since the start of the year, trading at $15.75 on Monday’s open
- First quarter results exceeded revenue projections ($1.09B actual vs $1.05B forecast), though annual guidance remained steady
- Wall Street consensus rating stands at Hold with a mean price target of $22.72, suggesting potential 44% appreciation
SoFi Technologies CEO Anthony Noto made his latest insider purchase on May 8, acquiring $250,000 worth of company shares by buying 15,878 units at a weighted average of $15.73 per share.
This marks Noto’s third direct stock purchase in 2026, elevating his cumulative personal stake in the fintech company beyond $2 million. His direct ownership now stands at approximately 11.93 million shares.
The transaction occurred shortly after SoFi released its first quarter financial results, which showcased revenue strength but failed to energize the market. The digital banking platform delivered $1.09 billion in quarterly revenue, surpassing Wall Street’s $1.05 billion estimate, while meeting earnings per share projections of $0.12.
The revenue figure represented a 42.6% increase compared to the same period last year. The comparable quarter in 2025 produced earnings of $0.06 per share.
Despite the positive top-line performance, shares experienced a selloff. Market participants reacted negatively to management’s choice to maintain existing full-year projections and expressed concerns about conservative language regarding the lending environment.
SOFI stock began Monday’s session at $15.75 — representing a decline of roughly 40% since January. The 12-month peak reached $32.73.
Wall Street Revises Price Objectives Post-Earnings
Multiple Wall Street firms adjusted their price expectations downward following the quarterly release. TD Cowen reduced its target from $24 to $18 while keeping a Hold recommendation. Needham lowered its objective from $33 to $25 but retained its Buy stance. Truist moved from $21 to $20, maintaining a Hold designation.
Keefe, Bruyette & Woods maintains an Underperform rating alongside a $17 price objective.
According to aggregated MarketBeat data, the consensus recommendation is Hold, supported by seven Buy ratings, eleven Hold ratings, and three Sell ratings. The mean price target across analysts stands at $22.72.
Large Fund Managers Continue Accumulating
CEO activity isn’t the only sign of confidence. ASR Vermogensbeheer N.V. established a fresh position during the fourth quarter, purchasing 38,206 shares valued at approximately $1 million.
Vanguard expanded its holdings by 3.6% in Q4, currently controlling more than 111 million shares worth roughly $2.9 billion. State Street boosted its stake by 30.7% during the third quarter.
Institutional investors collectively control 38.43% of outstanding SOFI shares.
Combined insider buying activity over the past three months totals $1.3 million, earning SOFI a “Positive” insider sentiment rating from TipRanks.
On the selling side, CTO Jeremy Rishel divested 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 arrangement.
SoFi’s fiscal 2026 EPS guidance stands at $0.60. Analyst consensus estimates project $0.59 for the complete fiscal year.
The stock’s 50-day moving average is currently positioned at $17.44. The 200-day moving average sits at $23.09.
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