![]() The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.Įddie Pan specializes in institutional investments and insider activity. On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. “We believe that SOFI not selling loans in 1Q could imply that gain on sale margins aren’t trending at similar elevated levels to those generated last year or that the market for loans may have weakened.” SoFi “marks loans with a baked-in gain on sale margin assumption, regardless of whether the loans are actually sold in the quarter,” said Wedbush analyst David Chiaverini. No other insider has transacted with SOFI on the open market this year.Ī point of concern that selling insiders may have is loan sales. Another insider, General Counsel Robert Lavet, reported selling 200,000 shares at an average price of $8.06 on February 2. Excluding him, the last insider transaction is attributed to CTO Jeremy Rishel, who reported selling 81,000 shares at an average per-share price of $6.46 on March 8. On the other hand, Noto is the lone SoFi insider who has purchased shares on the open market this year. Following his recent 30,000 share purchase, the CEO has now purchased 305,000 shares this year. However, that didn’t seem to bother Noto, as he reported purchasing 45,000 shares of SOFI shortly after. After the fall of Silicon Valley Bank, fears of liquidity risk and bank runs ran rampant. Noto seems to have a knack for buying shares of his own company in times of turmoil, such as the ongoing regional bank crisis. Analysts were expecting revenue of $441 million and an EPS loss of seven cents.ĬEO Anthony Noto Buys 30,000 Shares of SOFI Stock Revenue tallied in at $460.16 million, while EPS was a loss of five cents. Following the purchases, Noto now directly owns a total of 6.38 million shares.īoth sales come just after SoFi reported its first-quarter earnings on May 1, beating on both revenue and EPS. Then, on May 8, he added another 30,000 shares at an average per-share price of $5.11, worth $153,513. In total, the transaction amounted to $236,705. The CEO first reported purchasing 50,000 shares at an average price of $4.73 on May 4. Shares of SoFi SOFI stock are in full focus following yet another insider purchase from CEO Anthony Noto. ![]()
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