New York, June 17, 2026, 10:08 EDT
- SoFi climbed 3.2% to $18.28 at the open on Nasdaq as CEO Anthony Noto bought more shares in the open market, according to a new filing.
- Noto purchased 13,888 shares on June 16 at an average price of $18.0578, according to a filing. That brings his direct stake up to 11,960,507 shares.
- The Fed’s rate call is still ahead, and U.S. equity markets are set to close in two days for Juneteenth.
SoFi Technologies shares moved higher Wednesday. CEO Anthony Noto bought about $251,000 worth of the fintech lender’s stock, filings showed. The insider buying comes as the stock has seen a bumpy year.
The stock traded up 3.2% to $18.28, topping its $17.78 opening price. More than 10 million shares changed hands. Shares outperformed Ally Financial, which gained 1.3%, and beat LendingClub’s 2.8% climb. Robinhood, another trading-app company, also added 3.2%.
The timing is key here. SoFi’s been dealing with a steep 2026 drop, and TipRanks put its shares still off over 32% for the year despite the recent insider purchase. In the same report, analysts on Wall Street kept the stock at Hold with six Buys, 10 Holds and three Sells over the last three months.
Noto picked up 13,888 shares on June 16, per a Form 4 filing. The trades came in between $18.025 and $18.070, the filing said.
Stocks ticked up as the Fed decision loomed. The Dow was up 0.15%, S&P 500 ahead by 0.11%, and the Nasdaq Composite added 0.35% at 9:41 a.m. ET, according to Reuters. Wall Street expects the Fed to keep rates at 3.50% to 3.75%.
SoFi is sensitive to rates since borrowing costs hit loan demand, funding, and credit. “The last thing that Warsh wants to do is send the 10-year yield sharply higher,” Jeff Buchbinder, LPL Financial’s chief equity strategist, told Reuters, talking about new Fed Chair Kevin Warsh. Reuters
SoFi posted numbers that cheered bulls. First-quarter adjusted net revenue jumped 41% to $1.1 billion. Net income landed at $166.7 million, while adjusted EBITDA climbed 62% to $339.9 million. Total members rose 35% to 14.7 million.
Noto called the quarter “excellent” and said SoFi’s expansion in digital assets is “strengthening and diversifying” the platform. The company is looking for 2026 adjusted net revenue of around $4.655 billion and adjusted earnings near 60 cents a share, management said. SEC
But it’s not a straightforward story. SoFi’s Technology Platform revenue dropped 27% in Q1 after losing a big client. Annualized charge-offs on personal loans increased to 3.03% from 2.80% last quarter. If rates don’t come down or credit losses grow, the stock’s rebound might not last.
This is a short week. Nasdaq’s 2026 calendar lists U.S. equity and options markets closed Friday, June 19, for Juneteenth. That makes Thursday the next full trading day after the Fed decision.
