New York, May 10, 2026, 15:03 EDT
SoFi Technologies Inc CEO Anthony Noto picked up 15,878 shares on May 8, paying a weighted average of $15.7305 apiece, according to a regulatory filing. The purchase tacked on roughly $249,769 in stock after shares slipped following earnings. With the move, Noto’s direct stake increased to 11,931,074 shares, the filing showed.
The timing of the purchase stands out, coming just after SoFi posted record-breaking first-quarter results—yet investors still weren’t convinced the company could boost its 2026 outlook through rapid growth. On April 29, shares tumbled 12% in early trading, according to Reuters, after SoFi left its 2026 revenue forecast untouched despite hitting new highs in both loan and member numbers.
The stock closed Friday’s U.S. session at $15.75, slipping 1.6% from its previous finish. About 55.9 million shares changed hands. Market capitalization landed near $21.7 billion.
SoFi reported a 43% jump in first-quarter total net revenue, hitting $1.10 billion. Net income surged to $166.7 million, well above the $71.1 million posted a year ago. Diluted earnings per share climbed to 12 cents from 6 cents. In the company release, CEO Noto highlighted 35% member growth and a 39% increase in products.
The company stuck with its full-year adjusted net revenue outlook, keeping the figure—which isn’t calculated according to standard accounting rules—at roughly $4.655 billion. Adjusted EBITDA is still seen at about $1.6 billion, while adjusted EPS remains pegged at around 60 cents.
That was the snag. “SoFi uncharacteristically did not pass along first-quarter revenue and EBITDA upside, leaving 2026 guidance basically intact,” William Blair analyst Andrew Jeffrey said in a note quoted by Reuters. The brokerage added, “The Street will hate these results, in our view, but we see limited downside.” Reuters
Noto struck a confident tone, telling Reuters, “The health of our consumer base remains strong.” He highlighted record loan growth for the first quarter and said they’re anticipating demand to hold up in the second. Point-of-sale debit spending is still robust, he added, and credit performance is coming in as expected. Reuters
Investors are eyeing SoFi’s Loan Platform Business, the segment that handles third-party loan originations and borrower referrals. For the first quarter, the company reported $140.8 million in consolidated adjusted net revenue from this unit, with $138.3 million of that coming from $3.0 billion in personal loans originated for outside partners and from referral activity.
Peer reviews are all over the place. LendingClub posted a 31% jump in first-quarter originations to $2.7 billion and laid out a 2026 target range between $11.6 billion and $12.6 billion. Affirm released its March-quarter numbers on May 7. The standout with SoFi: its hefty deposit base—$40.2 billion as of March 31. The company said about 97% of those deposits are insured.
But risks remain. SoFi’s Technology Platform pulled in $75.1 million in revenue for the first quarter, down 27%. Platform accounts slid 16% after a major client wrapped up its exit ahead of year-end 2025. The company reported its total net charge-off ratio dropped to 2.04%, yet total net charge-offs climbed by $33 million year over year, landing at $201.6 million.
SoFi is still dealing with pressure from short-sellers. In March, Muddy Waters accused the company of hiding at least $312 million in debt. SoFi pushed back, labeling the allegations “factually inaccurate and misleading,” and said it’s considering legal options. Reuters
Investors see the latest insider buy as a direct message from leadership, though it doesn’t offer a fresh outlook. Now, the spotlight shifts to SoFi’s ability to sustain loan demand, breathe new life into its technology platform, and keep credit costs in check—while working to convert member growth into steady profits.
