CEO Anthony Noto Just Bought Another 28,860 Shares of SOFI Stock


  • SoFi (SOFI) CEO Anthony Noto bought 28,860 shares on May 24.
  • Noto has purchased approximately $600,000 worth of shares this month.
  • During the past year, he has purchased $1.04 million of SOFI stock.
SOFI stock - CEO Anthony Noto Just Bought Another 28,860 Shares of SOFI Stock

Source: Michael Vi /

SoFi (NASDAQ:SOFI) CEO Anthony Noto is back with another insider buy, marking his third buy this month. Shares of the company are down by about 30% so far this year.

On May 24, Noto picked up 28,860 shares at an average price of $6.92 per share. In total, the transaction was worth about $200,000 and brought his total stake to 8.09 million shares. His stake easily cements him as the largest individual shareholder of SOFI stock.

Noto also bought 28,775 shares on May 3 and another 28,900 shares on May 23. Both transactions were each worth about $200,000 as well.

In fact, Noto hasn’t sold a single share of SOFI on the open market since its special purpose acquisition company (SPAC) merger in 2021. Since then, his insider purchases have amounted to $14.68 million. During the past year, his purchases have amounted to $1.04 million.

SOFI Stock: CEO Anthony Noto Makes Another Insider Purchase

At the same time, other SoFi insiders haven’t shown the same conviction that Noto has. During the past year, these insiders have purchased $1.14 million of shares while selling $9.05 million. The only other insider that bought shares was Chief Financial Officer Chris Lapointe, who purchased 14,950 shares at an average price of $6.69 per share on Nov. 9.

Insider buys are a more concrete signal than insider sales, as insider buys indicate one message: The insider believes the price will go up. In contrast, an insider may sell shares for a variety of reasons, such as for a big purchase, a loss of faith in the company or diversification reasons.

Noto has been extremely persistent with his buys and has filed 35 separate Form 4s detailing his purchases since SOFI stock began trading.

Last week, the personal finance company announced a $350 million personal loan securitization placement, reducing its balance sheet risk in the process by transferring its loan obligations. PGIM Fixed Income, part of Prudential Financial (NYSE:PRU), was the buyer.

“We’ve continued to see healthy demand for our personal loan sales, providing us access to new forms of capital as SoFi helps more members get their money right,” said Noto.

SoFi has now securitized over $14.5 billion of personal loan collateral since its inception.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

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