SoFi Technologies CEO Anthony Noto has been buying shares of the digital banking company throughout 2026, even as the stock has dropped about a third year to date from roughly $26 to around $18. His most recent purchase was on June 16, when he bought 13,888 shares at an average price of about $18 each, bringing his direct stake to nearly 12 million shares. Noto also made open-market purchases in March and May, using his own cash each time the stock declined. SoFi's first-quarter net revenue rose 43% year over year to a record $1.1 billion, with net income more than doubling to $167 million and earnings per share reaching $0.12, marking its tenth consecutive profitable quarter. The company also launched Composer by SoFi, an AI-powered investing platform, following its acquisition of Composer earlier this year. Despite the strong results, the stock's decline likely reflects valuation concerns and the inherent credit risk of its fast-growing lending business, with shares trading at about 40 times trailing earnings or roughly 29 times forward earnings based on management's adjusted earnings per share guidance of about $0.60 for the year.
SoFi Technologies Inc.CEO buying shares signals insider confidence, but stock still fell on valuation/credit concerns
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