Upstart Holdings, Inc. (NASDAQ:UPST) CEO Dave Girouard Sells 41,667 Shares

Upstart Holdings, Inc. (NASDAQ:UPST) CEO Dave Girouard sold 41,667 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $65.41, for a total value of $2,725,438.47. Following the completion of the sale, the chief executive officer now directly owns 61,512 shares of the company’s stock, valued at $4,023,499.92. The trade was a 40.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Dave Girouard also recently made the following trade(s):

• On Friday, November 8th, Dave Girouard sold 41,667 shares of Upstart stock. The shares were sold at an average price of $65.15, for a total transaction of $2,714,605.05.

Upstart Stock Up 4.2 %

NASDAQ:UPST opened at $71.11 on Wednesday. The firm’s fifty day simple moving average is $49.26 and its 200-day simple moving average is $35.86. The stock has a market cap of $6.49 billion, a PE ratio of -36.84 and a beta of 1.97. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $86.07.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in UPST. Fred Alger Management LLC grew its holdings in shares of Upstart by 153.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after acquiring an additional 754,416 shares during the period. Two Sigma Advisers LP increased its holdings in Upstart by 689.5% during the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after acquiring an additional 514,400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Upstart by 63.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after acquiring an additional 282,481 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Upstart by 1,792.9% in the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after purchasing an additional 277,896 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Upstart by 4,087.8% in the third quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock valued at $9,333,000 after purchasing an additional 227,688 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on UPST. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Barclays increased their price objective on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and boosted their target price for the company from $56.00 to $87.00 in a report on Friday, November 8th. Wedbush increased their price target on Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.83.

About Upstart

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions.