CEO Anthony Noto Just Bought 28,900 Shares of SOFI Stock

CEO Insider Transactions - SoFi CEO Anthony Noto purchased 28,900 shares worth approximately $200,000 at an average price of $6 91 per share, bringing his total ownership to 8 06 million shares [1] - This is the second purchase by Noto in May, with the first being 28,775 shares worth about $200,000 at an average price of $6 90 per share [1] - Noto has not sold any shares since SoFi's SPAC merger in June 2021, and his total purchases amount to $14 48 million [3] - The purchases were not part of a prearranged 10b5-1 plan, indicating spontaneous buying and a strong belief in the company's upside potential [2] Insider Activity Overview - Since the merger, SoFi insiders have purchased $15 74 million worth of shares, with the majority attributed to Noto, while selling $1 09 billion, resulting in a net total of $1 08 billion in sales [4] Analyst Sentiment and Company Performance - Wall Street analysts have an average price target of $9 23 for SoFi, implying nearly 35% upside potential [4] - Keefe, Bruyette & Woods reiterated a price target of $7 50 and a "market perform" rating, noting that SoFi has been able to sell more personal loans in the past two quarters, reducing credit risk [5] - SoFi's loan balance stands at $15 1 billion, which is still high relative to loan sales, indicating room for improvement [5]