Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) CEO Sells $3,127,941.69 in Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CEO Dave Girouard sold 41,667 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $75.07, for a total transaction of $3,127,941.69. Following the transaction, the chief executive officer directly owned 52,614 shares of the company’s stock, valued at approximately $3,949,732.98. This trade represents a 44.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Dave Girouard also recently made the following trade(s):

• On Friday, June 20th, Dave Girouard sold 41,667 shares of Upstart stock. The shares were sold at an average price of $60.05, for a total transaction of $2,502,103.35.
• On Wednesday, June 11th, Dave Girouard sold 41,667 shares of Upstart stock. The shares were sold at an average price of $60.11, for a total transaction of $2,504,603.37.

Upstart Trading Up 1.0%

Upstart stock opened at $78.36 on Friday. The stock has a market cap of $7.46 billion, a P/E ratio of -104.48 and a beta of 2.37. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $96.43. The stock has a 50 day moving average of $59.38 and a 200-day moving average of $57.32.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.11. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. The business had revenue of $213.37 million for the quarter, compared to analyst estimates of $201.08 million. During the same period in the prior year, the company posted ($0.31) EPS. The business’s revenue was up 67.0% compared to the same quarter last year. As a group, equities analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UPST. Summit Financial Strategies Inc. purchased a new stake in Upstart in the 2nd quarter worth about $272,000. GC Wealth Management RIA LLC purchased a new stake in shares of Upstart during the 2nd quarter worth about $792,000. Symmetry Partners LLC raised its stake in shares of Upstart by 7.2% during the 2nd quarter. Symmetry Partners LLC now owns 6,086 shares of the company’s stock worth $394,000 after purchasing an additional 409 shares in the last quarter. Cadent Capital Advisors LLC purchased a new stake in shares of Upstart during the 2nd quarter worth about $1,011,000. Finally, Guided Capital Wealth Management LLC raised its stake in shares of Upstart by 1.7% during the 2nd quarter. Guided Capital Wealth Management LLC now owns 36,437 shares of the company’s stock worth $2,357,000 after purchasing an additional 609 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on UPST shares. Barclays raised their price objective on shares of Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective on shares of Upstart in a report on Monday, May 19th. Stephens started coverage on shares of Upstart in a report on Thursday, June 12th. They set an “equal weight” rating and a $55.00 price objective on the stock. The Goldman Sachs Group raised shares of Upstart to a “sell” rating and set a $71.00 price objective on the stock in a report on Monday, July 14th. Finally, Piper Sandler raised shares of Upstart to an “overweight” rating and set a $75.00 price objective on the stock in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.62.

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.