Upstart Holdings, Inc. (NASDAQ:UPST) CTO Sells $1,419,764.00 in Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CTO Paul Gu sold 36,200 shares of Upstart stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $39.22, for a total transaction of $1,419,764.00. Following the sale, the chief technology officer now directly owns 878,565 shares in the company, valued at $34,457,319.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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 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 stock was sold at an average price of $40.01, for a total transaction 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 Up 6.1 %

Shares of NASDAQ:UPST opened at $41.30 on Friday. Upstart Holdings, Inc. has a fifty-two week low of $19.84 and a fifty-two week high of $49.62. The firm has a 50-day simple moving average of $36.57 and a 200 day simple moving average of $28.85. The company has a market cap of $3.70 billion, a PE ratio of -20.05 and a beta of 2.01.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $127.63 million during the quarter, compared to the consensus estimate of $124.55 million. During the same quarter in the prior year, the firm earned ($0.34) EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, research analysts forecast that Upstart Holdings, Inc. will post -2.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Anfield Capital Management LLC bought a new position in Upstart in the 2nd quarter worth about $33,000. Benjamin F. Edwards & Company Inc. grew its position in Upstart by 80.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock worth $47,000 after purchasing an additional 778 shares during the last quarter. GAMMA Investing LLC grew its position in Upstart by 259.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after purchasing an additional 1,590 shares during the last quarter. Comerica Bank grew its position in Upstart by 144.0% in the 1st quarter. Comerica Bank now owns 2,313 shares of the company’s stock worth $62,000 after purchasing an additional 1,365 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Upstart by 18.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock worth $63,000 after purchasing an additional 409 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Citigroup raised shares of Upstart from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $15.00 to $33.00 in a research report on Wednesday, August 7th. Wedbush reissued an “underperform” rating and issued a $10.00 target price on shares of Upstart in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Piper Sandler boosted 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. Finally, Mizuho boosted their target price on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.