Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) CTO Sells 65,000 Shares of Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CTO Paul Gu sold 65,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $66.58, for a total transaction of $4,327,700.00. Following the completion of the sale, the chief technology officer now owns 878,565 shares of the company’s stock, valued at $58,494,857.70. The trade was a 6.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, October 14th, Paul Gu sold 20,000 shares of Upstart stock. The shares were 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 shares were 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 shares were sold at an average price of $39.22, for a total transaction of $1,419,764.00.
• 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.

Upstart Stock Performance

NASDAQ:UPST opened at $71.11 on Wednesday. The stock has a 50-day simple moving average of $49.26 and a 200 day simple moving average of $35.86. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $86.07. The company has a market cap of $6.49 billion, a PE ratio of -36.84 and a beta of 1.97.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Swiss National Bank boosted its stake in shares of Upstart by 1.6% during the 1st quarter. Swiss National Bank now owns 142,700 shares of the company’s stock worth $3,837,000 after buying an additional 2,200 shares during the last quarter. ProShare Advisors LLC boosted its position in Upstart by 10.1% during the first quarter. ProShare Advisors LLC now owns 13,342 shares of the company’s stock valued at $359,000 after purchasing an additional 1,219 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Upstart by 288.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 79,922 shares of the company’s stock valued at $2,149,000 after purchasing an additional 59,346 shares during the last quarter. Vanguard Group Inc. grew its stake in Upstart by 1.6% in the first quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock valued at $191,698,000 after purchasing an additional 115,057 shares in the last quarter. Finally, Magnetar Financial LLC increased its position in shares of Upstart by 1,106.7% during the 1st quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock worth $2,616,000 after purchasing an additional 89,219 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on UPST. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $31.00 to $85.00 in a research report on Friday, November 8th. Wedbush lifted their price target on shares of Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $30.00 to $45.00 in a report on Friday, November 8th. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.83.

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.