SoFi CEO enters prepaid forward contract on 1.5 million shares
PHOENIX—Sherrell Smith, Executive Vice President and Chief Academic Officer at Universal Technical Institute Inc . (NYSE:UTI), recently sold a significant amount of company stock. According to a recent SEC filing, Smith sold a total of 49,695 shares over two days, amounting to approximately $1.38 million in total sales. The transaction comes as UTI’s stock shows remarkable strength, with a 76% return over the past year and a market capitalization of $1.45 billion, according to InvestingPro data.
The transactions occurred on March 19 and 20, with shares sold at weighted average prices ranging from $26.68 to $27.94. The sales were conducted under a Rule 10b5-1 trading plan, which Smith adopted on December 16, 2024. Following these transactions, Smith retains ownership of 167,663 shares in the company. InvestingPro analysis shows UTI maintains a "GREAT" financial health score, with revenue growing 14.7% over the last twelve months.
These sales come as part of Smith’s planned financial strategy and do not reflect any immediate changes in the company’s operations or outlook. Universal Technical Institute, based in Phoenix, AZ, is a leading provider of postsecondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle, and marine technicians. Analysts maintain a bullish stance on UTI, with price targets ranging from $31 to $36. For comprehensive analysis and additional insights, access the full Pro Research Report available on InvestingPro.
In other recent news, Universal Technical Institute reported positive financial results for the first quarter of fiscal 2025, with improvements in revenue, Adjusted EBITDA, and new student starts compared to the previous year. The company has also increased its fiscal year guidance ranges. Rosenblatt Securities has raised its price target for Universal Technical Institute shares to $36 from $30, maintaining a Buy rating, citing the company’s strong corporate partnerships and successful student outcomes as key factors. Additionally, Universal Technical Institute has appointed Bruce Schuman as its new Chief Financial Officer, bringing significant experience from his previous roles at Vacasa and Kiavi.
In governance matters, shareholders re-elected four Class III directors and ratified Deloitte & Touche LLP as the independent auditor during the Annual Meeting. Universal Technical Institute is expanding its Manufacturer Specific Advanced Training offerings by introducing Tesla (NASDAQ:TSLA)’s START Collision Repair program at its Long Beach campus in Spring 2025. This collaboration with Tesla underscores the company’s commitment to innovation and addressing the skills gap in the automotive industry. These developments are part of Universal Technical Institute’s ongoing growth and diversification efforts under its North Star strategy.
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