What’s Fueling SOFI Stock’s Sudden Turnaround After 3 Weeks Of Selling?

• Recent SEC filings also show that CEO Anthony Noto has increased his stake in SoFi and now directly owns nearly 12 million shares.
• SoFi shares snapped a two-day losing streak on the news. 
• Analysts have a 12-month average price target of $21.10 for SOFI stock, indicating nearly 30% upside from its last close.

SoFi Technologies Inc. (SOFI) stock rebounded more than 3% on Monday, snapping a two-day losing streak on reports that the fintech company is set to acquire most of the U.K.-based retail investing platform PrimaryBid.

The company’s stock also gained momentum after fresh filings with the Securities and Exchange Commission revealed CEO Anthony Noto had increased his stake in the company, boosting investor sentiment.

The rebound comes amid a three-week stretch in the red for the stock amid broader market weakness and post-earnings volatility. SOFI shares have declined by more than 40% so far in 2026 and by more than 50% since hitting an all-time high of $32.73 in November 2025.

SoFi’s PrimaryBid Acquisition

SoFi Technologies is acquiring most of PrimaryBid's assets, ending the British fintech’s independent operations while enabling a partial return of capital to its investors, according to a Sky News report.

A message on the British firm’s website seemingly confirms the deal. “PrimaryBid’s technology has been acquired by SoFi Technologies Inc, a US-listed financial services company,” it said.

As per the Sky News report, PrimaryBid, founded in 2016, rose to prominence during the Covid-era fundraising boom by enabling retail investors to participate in public listings and share placements. However, weak UK IPO markets and declining issuance slowed its growth, prompting a sale despite a strong cash position.

However, financial details of the deal, including the exact purchase price for PrimaryBid’s assets, are yet to be disclosed.

SoFi’s Insider Buying Boosts Confidence

Recent SEC filings from SoFi revealed that the company’s CEO had purchased 15,545 shares of SoFi common stock on May 11 at a weighted average price of roughly $16 per share, totaling approximately $248,780. Earlier on May 8, Noto had purchased 15,878 shares of the company at a weighted average price of about $15.73 per share.

Following the purchases, the CEO now directly owns nearly 12 million shares of the company, reinforcing strong insider confidence in SoFi’s long-term growth prospects.

SOFI Stock: What Wall Street Expects

While SoFi has received multiple price target cuts from Wall Street analysts over the past week, the 12-month average price target on the stock is at $21.10, according to Koyfin data. This indicates an upside potential of nearly 30% from its last close.

Of the 24 analysts covering the stock, 12 rate it a ‘Hold,’ and eight have a ‘Buy’ or higher rating. Only four analysts have a ‘Sell’ or lower rating on the stock.

What’s Retail Thinking About SoFi?

Following the announcements, retail sentiment around the stock improved. On Stocktwits, it jumped from ‘bearish’ to ‘neutral’ territory over the past 24 hours, as message volumes increased to ‘normal’ levels.

Retail chatter around the stock has increased by more than 839% in the past month, according to platform data.

One user said, “Its already going international - if you know- you know.”

Another bullish user referenced Noto’s purchase.

A third user said, “If you are shorting a fundamentally strong stock with great execution and leadership like Sofi after it has already been dragged through the mud, you deserve to lose every penny.”

Another user predicted a price target of $80 by the end of the year.

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