Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) CEO Sells 41,667 Shares of Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CEO Dave Girouard sold 41,667 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total value of $2,608,354.20. Following the transaction, the chief executive officer now directly owns 57,138 shares in the company, valued at approximately $3,576,838.80. This represents a 42.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, November 20th, Dave Girouard sold 4,374 shares of Upstart stock. The stock was sold at an average price of $69.79, for a total transaction of $305,261.46.
• On Friday, November 15th, Dave Girouard sold 41,667 shares of Upstart stock. The stock was sold at an average price of $65.41, for a total transaction of $2,725,438.47.
• On Friday, November 8th, Dave Girouard sold 41,667 shares of Upstart stock. The shares were sold at an average price of $65.15, for a total value of $2,714,605.05.

Upstart Stock Performance

UPST stock traded down $1.54 during midday trading on Friday, reaching $62.96. The stock had a trading volume of 4,392,801 shares, compared to its average volume of 4,611,311. The firm has a fifty day simple moving average of $70.20 and a two-hundred day simple moving average of $49.02. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $88.95. The stock has a market cap of $5.74 billion, a PE ratio of -32.62 and a beta of 2.26.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Upstart in the third quarter valued at approximately $35,000. BNP Paribas purchased a new stake in shares of Upstart in the 3rd quarter valued at $37,000. Blue Trust Inc. increased its stake in shares of Upstart by 125.3% in the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after acquiring an additional 550 shares during the period. Hollencrest Capital Management purchased a new position in shares of Upstart during the third quarter worth $40,000. Finally, Indiana Trust & Investment Management Co acquired a new position in Upstart during the third quarter valued at $43,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UPST has been the topic of a number of research reports. JPMorgan Chase & Co. downgraded shares of Upstart from a “neutral” rating to an “underweight” rating and raised their target price for the company from $45.00 to $57.00 in a research report on Monday, December 2nd. Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $87.00 in a report on Friday, November 8th. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $31.00 to $85.00 in a report on Friday, November 8th. Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and lifted their price target for the company from $37.00 to $95.00 in a report on Tuesday, December 3rd. Finally, Needham & Company LLC raised Upstart from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Friday, December 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.80.

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.