Insider Buying: Upstart (NASDAQ:UPST) CEO Purchases $1,028,500.00 in Stock

Key Points

• Upstart CEO Paul Gu bought 50,000 shares for about $1.03 million at an average price of $20.57, increasing his stake by 38.46% to 180,000 shares.
• Upstart reported quarterly EPS of $0.33, beating estimates of $0.20, while revenue rose 33.7% year over year to $370.52 million.
• Analysts’ consensus rating is Hold, with an average price target of $32.40; shares recently traded at $19.56.

Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report) CEO Paul Gu purchased 50,000 shares of the stock in a transaction dated Wednesday, November 11th. The stock was purchased at an average cost of $20.57 per share, for a total transaction of $1,028,500.00. Following the completion of the acquisition, the chief executive officer owned 180,000 shares of the company's stock, valued at approximately $3,702,600. This represents a 38.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, September 10th, Paul Gu acquired 50,000 shares of Upstart stock. The stock was purchased at an average price of $25.55 per share, with a total value of $1,277,500.00.

Upstart Stock Up 2.1%

NASDAQ:UPST traded up $0.41 during mid-day trading on Friday, hitting $19.56. 5,013,744 shares of the stock traded hands, compared to its average volume of 4,728,826. The business's 50-day moving average price is $23.88 and its 200 day moving average price is $28.89. The company has a market cap of $1.93 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 2.00 and a beta of 2.48. Upstart Holdings, Inc. has a 12-month low of $18.91 and a 12-month high of $52.10.

Upstart (NASDAQ:UPST - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.13. Upstart had a net margin of 4.86% and a return on equity of 9.67%. The business had revenue of $370.52 million for the quarter, compared to analyst estimates of $362.68 million. During the same quarter in the prior year, the firm posted $0.23 EPS. Upstart's revenue was up 33.7% on a year-over-year basis. Analysts anticipate that Upstart Holdings, Inc. will post 0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America reaffirmed a "neutral" rating and issued a $28.00 price target on shares of Upstart in a report on Wednesday, November 4th. Weiss Ratings raised Upstart from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. BTIG Research dropped their price objective on Upstart from $43.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, November 3rd. B. Riley Financial restated a "buy" rating and set a $42.00 target price (down from $54.00) on shares of Upstart in a research report on Wednesday, November 4th. Finally, Truist Financial decreased their target price on Upstart from $40.00 to $30.00 and set a "buy" rating on the stock in a research note on Wednesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Upstart presently has a consensus rating of "Hold" and an average price target of $32.40.

Hedge Funds Weigh In On Upstart

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Maxi Investments CY Ltd purchased a new stake in shares of Upstart during the 2nd quarter valued at $6,852,000. Legal & General Group Plc bought a new stake in shares of Upstart during the 2nd quarter worth $2,589,000. SBI Securities Co. Ltd. grew its position in Upstart by 654.0% in the third quarter. SBI Securities Co. Ltd. now owns 126,246 shares of the company's stock worth $2,902,000 after acquiring an additional 109,502 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Upstart in the second quarter worth $1,557,000. Finally, Deutsche Bank AG purchased a new position in Upstart in the second quarter worth $3,385,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Upstart Company Profile

Upstart Holdings, Inc. operates an artificial intelligence–based lending marketplace that connects consumers seeking loans with banks and credit unions. Its platform uses machine-learning models and borrower data to help lending partners assess credit risk and make lending decisions. The company's offerings include personal loans and technology for auto lending, including auto retail and refinancing. Upstart was founded in 2012 by Dave Girouard, Paul Gu and Anna Counselman. Girouard serves as the company's chief executive officer.

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