Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) CTO Sells 12,007 Shares of Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CTO Paul Gu sold 12,007 shares of Upstart stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $948,793.14. Following the completion of the sale, the chief technology officer now owns 1,006,599 shares in the company, valued at approximately $79,541,452.98. This trade represents a 1.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paul Gu also recently made the following trade(s):

• On Thursday, December 5th, Paul Gu sold 4,019 shares of Upstart stock. The stock was sold at an average price of $75.00, for a total transaction of $301,425.00.
• On Monday, December 2nd, Paul Gu sold 87,600 shares of Upstart stock. The shares were sold at an average price of $69.39, for a total transaction of $6,078,564.00.

Upstart Stock Performance

Shares of UPST traded down $1.27 on Monday, hitting $70.50. 6,208,159 shares of the stock traded hands, compared to its average volume of 6,277,000. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $96.43. The company has a market capitalization of $6.61 billion, a PE ratio of -48.29 and a beta of 2.25. The business has a 50 day simple moving average of $68.36 and a 200 day simple moving average of $57.54.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. On average, equities analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

UPST has been the topic of several research reports. Morgan Stanley raised Upstart from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $12.00 to $70.00 in a research report on Friday, February 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 price target (up from $85.00) on shares of Upstart in a research note on Wednesday, February 12th. The Goldman Sachs Group raised their price objective on Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Wedbush upped their target price on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Finally, BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.38.

Hedge Funds Weigh In On Upstart

Hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. purchased a new stake in shares of Upstart during the 4th quarter valued at about $31,000. Virtus Fund Advisers LLC purchased a new position in shares of Upstart during the fourth quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Upstart during the third quarter valued at approximately $35,000. BNP Paribas purchased a new stake in Upstart in the third quarter worth approximately $37,000. Finally, Hollencrest Capital Management bought a new stake in Upstart in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.