SoFi Technologies shares tumble over 30% as CEO Anthony Noto keeps buying stock

SoFi Technologies' shares have fallen more than 30% year‑to‑date, dropping from about $26 at the end of 2025 to roughly $18 in June 2026. Despite the decline, CEO Anthony Noto has repeatedly purchased shares on the open market, including a June 16 buy of 13,888 shares at an average price of $18, bringing his personal stake to nearly 12 million shares. His insider purchases total about $2.35 million over the past year and followed a short‑seller report that briefly pressured the stock.

In its first‑quarter 2026 results, SoFi reported 41% revenue growth year‑over‑year, a 35% increase in membership to 14.7 million users, and a record loan‑origination volume of $12.2 billion. Net income more than doubled, and the company reaffirmed guidance for full‑year adjusted revenue of $4.655 billion and adjusted EBITDA of $1.6 billion. The firm highlighted a rising cross‑sell rate, up from 36% to 43% in the quarter. However, the Technology Platform segment saw a 27% revenue decline after losing a major client, prompting a rebrand to SoFi Technology Solutions.

Analysts remain cautious, with a mix of hold, buy, and sell ratings and a consensus price target of $21.10. The stock’s beta of 2.126 indicates high sensitivity to broader market moves, while the firm faces ongoing credit‑quality and funding challenges in a rate‑stagnant environment.