SoFi stock rises 3% as CEO makes another insider purchase

Shares of SoFi Technologies rose sharply in trading this week, buoyed by a significant insider purchase from the company's chief executive and broader sector momentum. The fintech stock closed at $17.71 on Tuesday, June 16, a gain of 3.4% for the session, after reaching an intraday high of $18.08. Trading volume was notably high, exceeding the daily average by approximately 60%.

The rally coincided with CEO Anthony Noto's latest open-market acquisition of company shares. Noto purchased 13,888 shares for approximately $251,000, marking his fifth such insider purchase this year. Following the transaction, his direct ownership stands at nearly 11.96 million shares. This consistent buying pattern by the CEO has occurred against a backdrop of significant stock price pressure in 2026, with shares down more than 32% year-to-date. The stock currently trades below its 200-day moving average of $20.74.

The company's underlying financial performance has remained robust. For the first quarter of 2026, SoFi reported revenue of $1.09 billion, surpassing analyst expectations and representing a 42.6% increase year-over-year. Earnings per share matched the consensus forecast at $0.12. The...