Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) CTO Sells 36,200 Shares of Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CTO Paul Gu sold 36,200 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $39.22, for a total transaction of $1,419,764.00. Following the completion of the sale, the chief technology officer now owns 878,565 shares of the company’s stock, valued at approximately $34,457,319.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, August 20th, Paul Gu sold 16,064 shares of Upstart stock. The stock was sold at an average price of $38.62, for a total transaction of $620,365.98.
• On Tuesday, September 3rd, Paul Gu sold 45,000 shares of Upstart stock. The shares were sold at an average price of $40.86, for a total value of $1,838,700.00.
• On Monday, August 19th, Paul Gu sold 10,000 shares of Upstart stock. The stock was 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 transaction of $300,500.00.
• On Thursday, July 11th, Paul Gu sold 10,000 shares of Upstart stock. The stock was sold at an average price of $25.88, for a total transaction of $258,800.00.

Upstart Stock Performance

Shares of Upstart stock remained flat at $38.94 during trading on Thursday. 3,745,933 shares of the stock traded hands, compared to its average volume of 6,602,968. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -18.51 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. The company’s 50 day moving average price is $36.00 and its 200-day moving average price is $28.66.

Upstart (NASDAQ:UPST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.22. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The firm had revenue of $127.63 million for the quarter, compared to analysts’ expectations of $124.55 million. During the same quarter last year, the company posted ($0.34) EPS. The business’s quarterly revenue was down 6.0% on a year-over-year basis. On average, sell-side analysts expect that Upstart Holdings, Inc. will post -2.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Upstart

A number of hedge funds and other institutional investors have recently modified their holdings of UPST. Millennium Management LLC lifted its position in Upstart by 1,792.9% in the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after buying an additional 277,896 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Upstart by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock worth $286,589,000 after acquiring an additional 157,719 shares during the last quarter. Seven Eight Capital LP boosted its stake in shares of Upstart by 349.1% in the 1st quarter. Seven Eight Capital LP now owns 189,385 shares of the company’s stock valued at $5,093,000 after purchasing an additional 147,213 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Upstart by 442.1% during the 2nd quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock valued at $3,496,000 after purchasing an additional 120,871 shares during the last quarter. Finally, Magnetar Financial LLC boosted its position in Upstart by 1,106.7% during the first quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock valued at $2,616,000 after buying an additional 89,219 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on UPST. Mizuho lifted their price target on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Citigroup raised Upstart from a “sell” rating to a “neutral” rating and upped their price target for the company from $15.00 to $33.00 in a research report on Wednesday, August 7th. Wedbush reissued an “underperform” rating and issued a $10.00 price objective on shares of Upstart in a report on Wednesday, August 7th. Barclays upped their price objective on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Upstart currently has an average rating of “Hold” and a consensus target price of $27.61.

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.