SoFi Technologies Inc. (NASDAQ:SOFI) shares are trading higher on Thursday as investors react to continued insider buying from CEO Anthony Noto, with the broader tape also leaning risk-on in tech.
- SoFi Technologies shares are trending higher. Why is SOFI stock trading higher?
What Is Driving SoFi Technologies Stock Today?
Noto bought another 13,888 shares on June 16 at a weighted average price of $18.06, extending a 2026 open-market buying streak to five separate purchases. Across those buys, he has purchased 130,211 shares in 2026 at a blended average price of about $17.29 and now holds about 11.96 million shares directly.
SoFi’s bid is also leaning on its crypto-adjacent narrative after the SoFiUSD rollout, which the company has described as a U.S. national bank-issued stablecoin available inside a banking app with access expanded to nearly 15 million members. That “bank-grade,” 1:1 redeemable token angle has helped keep attention on nearly 15 million potential users.
Critical Levels To Watch for SOFI Stock
From a trend perspective, SOFI is trying to stabilize after a rough longer-term slide: it’s still trading 21.8% below its 200-day SMA ($22.73), and the 50-day SMA remains below the 200-day SMA after the death cross in March. The stock is, however, back above its shorter-term baselines—6.2% above the 20-day SMA ($16.74) and 5.2% above the 50-day SMA ($16.91)—which often matters for swing traders looking for a base to form.
Momentum is improving: MACD is above its signal line and the histogram is positive, which suggests downside pressure is easing versus the prior downswing. In plain terms, when MACD is above its signal line, it typically means buyers are gaining traction even if the bigger trend hasn’t fully flipped yet.
- Key Resistance: $19.00 — a nearby round-number area where rebounds can stall
- Key Support: $16.00 — a nearby level that lines up with a recent pivot zone and sits close to the 20-day/50-day area
What Is SoFi Technologies and Its Business Model?
SoFi is a financial-services company that was founded in 2011 and is based in San Francisco. It started with student loan refinancing, but it’s expanded into personal loans, credit cards, mortgages, investing, banking services, and financial planning—built to be a one-stop shop that runs through its app and website.
That “all-in-one” model is why insider buying can matter to the market: investors often read repeated open-market purchases as management signaling confidence in the long-term product mix and earnings path, even if it doesn’t map cleanly to next week’s price action. Through its 2020 acquisition of Galileo, SoFi also provides payments and account services for debit cards and digital banking, giving it a picks-and-shovels angle beyond just consumer lending.
SoFi Technologies Benzinga Edge Rankings Explained
Below is the Benzinga Edge scorecard for SoFi Technologies, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Weak (Score: 18.57) — Despite the recent bounce, the stock’s momentum profile still lags stronger-trending names.
- Growth: Strong (Score: 98.15) — The scorecard is flagging SOFI as growth-leaning, which can keep the stock sensitive to sentiment shifts in high-beta tech.
The Verdict: SoFi Technologies’s Benzinga Edge signal reveals a growth-heavy profile with weak momentum, which fits a stock that’s trying to repair its chart after a longer drawdown. For longer-term bulls, the setup improves if price can reclaim the $19.00 area and start closing the gap to the 200-day trend zone.
SOFI Stock Price Movement on Thursday
SOFI Stock Price Activity: SoFi Technologies shares were up 1.72% at $17.72 at the time of publication on Thursday, according to Benzinga Pro data.
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