SoFi Technologies (SOFI), the digital banking and fintech company, has struggled to regain momentum after its latest earnings report. However, CEO Anthony Noto is once again showing confidence in the stock with another major insider purchase. According to the latest SEC filings, Noto executed a new “Informative Buy” on Friday, May 8. Noto purchased 15,878 shares at a weighted average price of $15.73, a total investment of roughly $250,000.
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SoFi stock is still down about 40% year-to-date, but Noto’s aggressive buying could give bulls a reason to believe the recent pullback may not last much longer.
Insider Sentiment for SOFI Stock Is ‘Positive’
The latest move follows a familiar pattern for Noto. Over the years, the CEO has repeatedly stepped in to buy shares during sharp pullbacks, using his own money to back the company when sentiment turns weak.
After the latest purchase, Noto now directly owns nearly 11.93 million shares of SoFi stock. More importantly, this marks his third large insider buy of 2026. Including earlier purchases this year, his total personal investment in SoFi stock has now crossed $2 million.
Meanwhile, corporate insiders have reported informative buys worth a combined $1.3 million in SoFi stock over the last three months, giving the company a “Positive” insider activity signal.
Why Did SoFi Stock Fall after Earnings?
The timing of the purchase has caught investors’ attention because it comes shortly after SoFi’s first-quarter earnings report.
The company posted better-than-expected revenue and earnings, while also reporting strong member growth and continued expansion across its financial services business. Despite the strong results, investors focused on the company’s unchanged full-year guidance and cautious comments on the lending market.
That triggered a post-earnings sell-off, and several analysts lowered their price targets on the stock. Still, Noto appears to see the weakness as a buying opportunity rather than a warning sign.
What Is SoFi’s Price Target?
According to TipRanks’ consensus, SOFI stock has a Hold consensus rating based on six Buys, 10 Holds, and three Sells assigned in the last three months. At $20.88, the average SoFi stock price target implies a 32.54% upside potential.
