Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) CTO Sells 5,000 Shares of Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CTO Paul Gu sold 5,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $23.52, for a total value of $117,600.00. Following the transaction, the chief technology officer now directly owns 894,629 shares in the company, valued at approximately $21,041,674.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, June 3rd, Paul Gu sold 15,000 shares of Upstart stock. The stock was sold at an average price of $25.20, for a total value of $378,000.00.
• On Monday, May 20th, Paul Gu sold 15,131 shares of Upstart stock. The stock was sold at an average price of $25.61, for a total value of $387,504.91.
• On Wednesday, May 15th, Paul Gu sold 80,000 shares of Upstart stock. The stock was sold at an average price of $29.52, for a total value of $2,361,600.00.

Upstart Price Performance

NASDAQ:UPST opened at $23.07 on Friday. The business’s 50-day moving average is $24.06 and its two-hundred day moving average is $28.02. Upstart Holdings, Inc. has a 12 month low of $19.84 and a 12 month high of $72.58.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, May 7th. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.06. The company had revenue of $127.79 million during the quarter, compared to the consensus estimate of $124.82 million. Upstart had a negative return on equity of 27.89% and a negative net margin of 32.59%. As a group, equities research analysts predict that Upstart Holdings, Inc. will post -2.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on UPST. Wedbush reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Upstart in a research report on Wednesday, May 8th. Mizuho cut their target price on Upstart from $23.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a research report on Wednesday, May 8th. Redburn Atlantic raised Upstart from a “sell” rating to a “neutral” rating and increased their target price for the stock from $22.50 to $25.50 in a research report on Tuesday, June 4th. Finally, BTIG Research began coverage on Upstart in a research report on Friday, June 7th. They issued a “sell” rating and a $14.00 target price on the stock. Six equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, Upstart has a consensus rating of “Hold” and a consensus target price of $21.65.

Institutional Trading of Upstart

Several large investors have recently modified their holdings of UPST. GAMMA Investing LLC acquired a new stake in shares of Upstart during the fourth quarter valued at about $25,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Upstart by 80.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after acquiring an additional 778 shares in the last quarter. Strs Ohio acquired a new stake in shares of Upstart during the fourth quarter valued at about $57,000. ICA Group Wealth Management LLC acquired a new position in Upstart in the fourth quarter worth about $61,000. Finally, BOCHK Asset Management Ltd acquired a new position in Upstart in the fourth quarter worth about $61,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.