Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) CTO Sells 87,600 Shares of Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CTO Paul Gu sold 87,600 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $69.39, for a total value of $6,078,564.00. Following the completion of the sale, the chief technology officer now directly owns 863,065 shares of the company’s stock, valued at $59,888,080.35. The trade was a 9.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, November 25th, Paul Gu sold 58,786 shares of Upstart stock. The shares were sold at an average price of $75.93, for a total transaction of $4,463,620.98.
• On Thursday, November 21st, Paul Gu sold 21,214 shares of Upstart stock. The shares were sold at an average price of $75.03, for a total transaction of $1,591,686.42.
• On Friday, November 15th, Paul Gu sold 65,000 shares of Upstart stock. The shares were sold at an average price of $66.58, for a total transaction of $4,327,700.00.
• On Monday, October 14th, Paul Gu sold 20,000 shares of Upstart stock. The stock was sold at an average price of $50.26, for a total value of $1,005,200.00.
• On Friday, October 4th, Paul Gu sold 8,800 shares of Upstart stock. The stock was sold at an average price of $40.10, for a total value of $352,880.00.
• On Tuesday, October 1st, Paul Gu sold 36,200 shares of Upstart stock. The stock was sold at an average price of $39.22, for a total value of $1,419,764.00.

Upstart Stock Up 2.5 %

Shares of UPST stock traded up $1.85 during trading hours on Wednesday, reaching $74.63. The company had a trading volume of 5,625,595 shares, compared to its average volume of 6,892,791. The business has a fifty day simple moving average of $56.03 and a 200-day simple moving average of $38.97. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $86.07.

Hedge Funds Weigh In On Upstart

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC lifted its holdings in Upstart by 1,413.7% during the third quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock valued at $13,342,000 after purchasing an additional 311,434 shares during the last quarter. Synergy Financial Group LTD bought a new stake in shares of Upstart during the third quarter valued at about $258,000. Orion Capital Management LLC increased its position in shares of Upstart by 5.1% during the third quarter. Orion Capital Management LLC now owns 5,560 shares of the company’s stock valued at $222,000 after buying an additional 270 shares during the period. Geode Capital Management LLC increased its position in shares of Upstart by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock worth $72,702,000 after purchasing an additional 29,482 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Upstart in the third quarter worth approximately $430,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UPST has been the subject of a number of research reports. Mizuho raised their target price on Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and raised their target price for the company from $56.00 to $87.00 in a research report on Friday, November 8th. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $31.00 to $85.00 in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. downgraded Upstart from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $45.00 to $57.00 in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.56.

Upstart Company Profile

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.