The one insider who keeps buying
There is a saying on Wall Street. Executives sell their own stock for many reasons, but they buy it for only one.
SoFi Technologies CEO Anthony Noto has been buying. He has made five open-market purchases in 2026, adding roughly 130,000 shares at a blended price near $17.29. His most recent buy came in June, about 13,888 shares around $18.06. He now holds nearly 12 million shares directly, and his purchases this year total roughly $2.25 million of his own money.
This is not a one-time gesture timed to a good headline. It is a pattern of a chief executive stepping in again and again as his stock falls.
The stock has been cut hard
The buying stands out because the stock has been painful to own this year.
SoFi trades near $18, down about a third from roughly $26 at the end of 2025. It sits well below its 52-week high of $32.73 and closer to the low of $14.92. The company is worth about $23 billion. On Thursday the shares were down about 2%, sliding with technology stocks even as a weak jobs report pointed to lower interest rates ahead. Lower rates are usually a tailwind for a lender, which makes the drop notable.
So the CEO is buying into weakness, not strength. That is the version of insider buying that carries the most weight.
What the business is doing
SoFi is not a broken company. It is an expensive one.
Management guides for revenue growth of about 30% this year, to roughly $4.7 billion, with adjusted EBITDA near $1.6 billion and earnings expected to grow more than 50%. The growth is real, powered by member additions, a national bank charter, and expansion into areas like mortgages and crypto.
The debate is the price. The stock trades near 38 times trailing earnings and about 30 times the roughly $0.61 that analysts expect it to earn this year. On sales, it changes hands around 4.9 times this year's revenue guide. Those are premium multiples for a lender, and they are the reason Wall Street is cautious. The average analyst rating is Hold, with a consensus price target near $21 and estimates that run from the low teens to $31.
The risk is straightforward. SoFi lends to consumers, and a softening job market like the one June just showed can raise the odds of late payments and defaults. A high multiple leaves little room for error if credit turns.
The forward look
The setup is a clean disagreement. The person who knows the business best keeps buying. The analysts who cover it keep waiting. The stock sits in the middle, cheaper than it was but still priced for growth.
The next real test is earnings, when investors will see whether member growth and credit quality back up the CEO's conviction or the market's caution. Until then, the insider signal is one of the few things pointing up.
