Insider purchases continue?
After we identified and reported last month on 2 insider purchases at $SOFI
we again identified a significant and interesting insider purchase at the company:
And this time?
Anthony Noto
who serves at the company as none other than
the CEO and a board member
Noto, who previously served as CFO of Twitter and as a senior executive at Goldman Sachs, likely knows the investment world intimately.
Early last week, Noto opened his personal wallet and purchased $SOFI shares for approximately $1,000,000 at a price of $17.8 per share (market price).
In our review, we discovered that this is not his first insider purchase.
In fact, we found that his last purchases were sometime in 2023-2024 - at prices much lower than his current insider purchase price ($6.48 per share).
Noto's re-emergence after more than two years and a purchase at a price much higher than the prices at which he bought previously - makes us wonder what is leading him to buy specifically now?
What particularly caught our attention in our review -
is the fact that immediately after Noto made his insider purchase, SoFi updated on several unusual collaborations...
1. The day after his insider purchase - the company announced a collaboration with Mastercard in the stablecoin sector.
This is a major collaboration which, according to the company - is expected to increase the company's activity in crypto payments.
2. Two days after the insider purchase - SoFi launched SoFiUSD - the platform's official currency which allows users to make fast transfers and instant crypto payments.
And incidentally? - to increase the amount of deposit funds in SoFi's coffers...
The market, primarily preoccupied with the war in the Middle East - might be missing these interesting SoFi news a bit?
News that comes at an interesting time - against the backdrop of the company CEO's insider purchase.
We are monitoring - we will continue to update