Upstart Holdings, Inc. (NASDAQ:UPST) Chief Technology Officer Paul Gu Sells 16,064 Shares

Upstart Holdings, Inc. (NASDAQ:UPST) Chief Technology Officer Paul Gu sold 16,064 shares of Upstart stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $38.62, for a total transaction of $620,365.98. Following the sale, the insider now owns 878,565 shares in the company, valued at $33,928,774.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, September 3rd, Paul Gu sold 45,000 shares of Upstart stock. The stock was sold at an average price of $40.86, for a total transaction of $1,838,700.00.
• On Monday, August 19th, Paul Gu sold 10,000 shares of Upstart stock. The shares were sold at an average price of $40.01, for a total value of $400,100.00.
• On Monday, July 15th, Paul Gu sold 10,000 shares of Upstart stock. The stock was sold at an average price of $30.05, for a total value of $300,500.00.
• On Thursday, July 11th, Paul Gu sold 10,000 shares of Upstart stock. The shares were sold at an average price of $25.88, for a total value of $258,800.00.
• On Monday, July 1st, Paul Gu sold 5,000 shares of Upstart stock. The shares were sold at an average price of $23.52, for a total value of $117,600.00.

Upstart Stock Performance

Shares of NASDAQ UPST opened at $34.40 on Friday. The firm has a 50 day moving average price of $31.76 and a 200 day moving average price of $27.07. The stock has a market cap of $3.08 billion, a P/E ratio of -16.70 and a beta of 2.03. Upstart Holdings, Inc. has a 52-week low of $19.84 and a 52-week high of $49.62.

Upstart (NASDAQ:UPST) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.22. The company had revenue of $127.63 million during the quarter, compared to the consensus estimate of $124.55 million. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The firm’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. Analysts predict that Upstart Holdings, Inc. will post -2.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Anfield Capital Management LLC acquired a new stake in Upstart in the 2nd quarter valued at approximately $33,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Upstart by 80.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after purchasing an additional 778 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Upstart by 259.0% in the second quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after purchasing an additional 1,590 shares in the last quarter. BOCHK Asset Management Ltd acquired a new position in Upstart during the fourth quarter worth $61,000. Finally, Comerica Bank grew its position in Upstart by 144.0% in the first quarter. Comerica Bank now owns 2,313 shares of the company’s stock valued at $62,000 after purchasing an additional 1,365 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Upstart from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays raised their price objective on shares of Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Wedbush reissued an “underperform” rating and issued a $10.00 target price on shares of Upstart in a report on Wednesday, August 7th. BTIG Research assumed coverage on Upstart in a report on Friday, June 7th. They set a “sell” rating and a $14.00 price target for the company. Finally, Mizuho raised Upstart from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $17.00 to $31.00 in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.75.

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.