Upstart President Sells $456K Stock as Jefferies Lifts Target to $30
UPST•Upstart President Sanjay Datta plans to sell 15,000 shares valued at $456,000, following earlier disposals of 1,817 and 7,985 shares for $53,700 and $229,700 respectively. Jefferies raised its price target to $30 from $27 with a Hold rating after meeting new CFO Andrea Blankmeyer, signaling a 3.4% downside.
1. Insider Stock Sales
President and Chief Capital Officer Sanjay Datta filed a Form 144 to sell 15,000 shares worth $456,000, following earlier disposals of 1,817 shares for $53,700 and 7,985 shares for $229,700 acquired through vested restricted stock awards.
2. Leadership Transition
Effective May 1, co-founder Paul Gu was elevated from CTO to CEO, Dave Girouard moved to Executive Chairman, Sanjay Datta became President and Chief Capital Officer, Andrea Blankmeyer assumed the CFO role, and Grant Schneider returned as CTO under succession planning.
3. Analyst Price Target Revision
Jefferies raised its price target to $30 from $27 while maintaining a Hold rating after meeting with CFO Blankmeyer, implying a 3.4% downside from the prior close based on updated assumptions for non-prime lending focus and expense trends.
4. Growth and Margin Dynamics
Upstart’s AI-driven loan originations have rebounded with strong growth, but margins have not yet scaled proportionally with revenue increases, highlighting potential hurdles for near-term profitability improvements.
