Dave Girouard Sells 41,667 Shares of Upstart Holdings, Inc. (NASDAQ:UPST) Stock

Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report) CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $75.07, for a total value of $3,127,941.69. Following the completion of the transaction, the chief executive officer owned 52,614 shares in the company, valued at $3,949,732.98. This trade represents a 44.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

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

Upstart Stock Up 0.8%

Shares of NASDAQ UPST traded up $0.62 during midday trading on Thursday, reaching $77.58. 5,271,315 shares of the stock were exchanged, compared to its average volume of 6,867,298. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of -103.44 and a beta of 2.37. The firm has a 50-day simple moving average of $58.76 and a two-hundred day simple moving average of $57.24. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43.

Upstart (NASDAQ:UPST - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $201.08 million. During the same period in the prior year, the company posted ($0.31) EPS. The business's quarterly revenue was up 67.0% on a year-over-year basis. Research analysts expect that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

UPST has been the topic of a number of recent research reports. Barclays upped their target price on Upstart from $42.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Needham & Company LLC reiterated a "buy" rating and issued a $70.00 target price on shares of Upstart in a research report on Monday, May 19th. Piper Sandler upgraded Upstart to an "overweight" rating and set a $75.00 target price on the stock in a research report on Tuesday, June 24th. Morgan Stanley dropped their target price on Upstart from $70.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group upgraded Upstart to a "sell" rating and set a $71.00 target price on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Upstart has an average rating of "Hold" and a consensus target price of $71.62.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Upstart by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 8,014,656 shares of the company's stock worth $368,915,000 after purchasing an additional 221,204 shares during the period. Two Sigma Investments LP grew its holdings in shares of Upstart by 20.1% during the 4th quarter. Two Sigma Investments LP now owns 1,922,770 shares of the company's stock worth $118,385,000 after purchasing an additional 321,366 shares during the period. Fred Alger Management LLC grew its holdings in shares of Upstart by 53.6% during the 4th quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company's stock worth $117,914,000 after purchasing an additional 668,282 shares during the period. Geode Capital Management LLC grew its holdings in shares of Upstart by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company's stock worth $113,711,000 after purchasing an additional 29,664 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in shares of Upstart by 190.2% during the 4th quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company's stock worth $105,242,000 after purchasing an additional 1,120,300 shares during the period. 63.01% of the stock is owned by institutional investors and hedge funds.

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.

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