With shares of SoFi Technologies (NASDAQ: SOFI) down roughly 36% this year, two high-profile investors are betting the sell-off has gone too far.

SoFi CEO Anthony Noto has been steadily accumulating stock through open-market purchases, most recently acquiring 13,888 shares at $18.06 per share last month.

That latest purchase lifted Noto’s direct ownership stake to nearly 12 million shares, a significant personal commitment from the executive running the company.

ARK Investment Management, led by Cathie Wood, moved in parallel, deploying approximately $6.8 million across two of its funds to add to its SOFI position.

The flagship ARK Innovation ETF (ARKK) accounted for the bulk of that capital, purchasing 362,911 shares valued at roughly $6.1 million.

An additional 42,809 shares, worth approximately $717,100, were acquired through the ARK Blockchain and Fintech Innovation ETF, rounding out the firm’s total commitment.

The timing of both purchases coincides with SOFI trading at a forward price-to-earnings ratio of around 20x, a level described as near its all-time low.

Despite the conviction from Wood and Noto, retail sentiment on social media has remained sharply negative, with traders dismissing the stock and the investors backing it.

One user posted bluntly, “$SOFI this is dead stock,” while another took direct aim at the fund manager, writing, “$SOFI Cathie Wood makes the most terrible picks!”

Wall Street analysts are less hostile but still cautious, with 26 analysts polled by Barchart arriving at a consensus rating of “Hold” on the stock.

The 12-month average price target tracked by Koyfin sits at $20.84, which would represent an upside of roughly 24.4% from the stock’s most recent closing price.

A central debate among observers is whether SoFi can sustain the pace of growth that has defined its recent quarters, given that adding approximately one million members and expanding revenue in the 30% range cannot continue indefinitely.

Bulls, however, point to underpenetrated opportunities in cross-selling financial products to its existing member base and the longer-term potential of international expansion as reasons to look past near-term concerns.

The convergence of insider buying and institutional accumulation at compressed valuations sets up an unusual dynamic for a stock that the broader market has largely punished over the past year.