In May of last year, David Yuan disclosed a $12,534,400 purchase of Toast Inc $TOST shares in an SEC Form-4 filing. 

Toast utilizes cloud-based software and hardware to deliver an all-in-one platform that covers point of sale, marketing, digital ordering, delivery, and more for the restaurant industry.

Yuan has been a member of Toast’s board since March 2019, playing a vital role in the company's governance and strategic direction. 

Such a sizable open-market purchase can only be interpreted as a demonstration of an insider's bullishness toward a stock.

The fact that Yuan is a seasoned growth investor with a long track record of success with other similar companies only makes the setup that much sweeter.

He currently runs Tidemark Capital, previously spent 15 years at Technology Crossover Ventures, and has been recognized by Forbes as one of the top 100 technology investors in the world.

You won’t find many investment shops that know their way around the world of technology better than Coatue Management.

The firm was founded in 1999 by Philippe Laffont after leaving the renowned hedge fund, Tiger Management. 

Today, Coatue has emerged as one of the top “Tiger Cubs” and is revered for their astounding track record of investing in early-stage internet companies.

Coatue was there early in names like Tik-Tok, Snapchat, and Spotify… and most recently in OpenAI, the parent company of ChatGPT.

The firm made a new AI investment a few weeks ago, and it is one of the more significant insider transactions we’ve seen all year.

Allow me to explain…

No one has better information about SoFi Technologies $SOFI than its CEO, Anthony Noto.

As chief executive officer, Noto is more than just the leader of SOFI. With almost 7 million shares, he’s also one of their largest individual shareholders.

His stake is worth roughly $48 million based on today’s price.

Between March 2022 and May 2024, Noto filed 22 Form 4s with the SEC, reporting purchases of SOFI shares totaling $10,452,876.

All of these purchases were made on the open market. None were planned or related to stock compensation.

In other words, Noto was buying stock because he thought the share price would rise. It’s really that simple.

Before joining SoFi, he held prominent roles as chief financial officer and chief operating officer at Twitter.

He was also a partner at Goldman Sachs and was the CFO of the National Football League.