Upstart Holdings, Inc. (NASDAQ:UPST) CEO Sells $2,502,103.35 in Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CEO Dave Girouard sold 41,667 shares of the company’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $60.05, for a total transaction of $2,502,103.35. Following the completion of the transaction, the chief executive officer now owns 52,614 shares of the company’s stock, valued at $3,159,470.70. This trade represents a 44.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 Stock Down 3.7%

UPST stock opened at $62.44 on Thursday. The business has a 50 day moving average of $50.24 and a 200 day moving average of $57.27. The firm has a market cap of $5.94 billion, a PE ratio of -83.25 and a beta of 2.29. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.11. The firm had revenue of $213.37 million during the quarter, compared to the consensus estimate of $201.08 million. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. The company’s revenue was up 67.0% on a year-over-year basis. During the same period last year, the company earned ($0.31) earnings per share. On average, research analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on UPST shares. Morgan Stanley decreased their price target on shares of Upstart from $70.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. Bank of America upgraded Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a report on Tuesday, April 29th. Piper Sandler upgraded Upstart to an “overweight” rating and set a $75.00 target price for the company in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and set a $70.00 price target on shares of Upstart in a research report on Monday, May 19th. Finally, Barclays upped their price target on Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $67.42.

Institutional Trading of Upstart

Institutional investors and hedge funds have recently bought and sold shares of the company. Rakuten Securities Inc. bought a new position in shares of Upstart in the fourth quarter worth approximately $31,000. Virtus Fund Advisers LLC purchased a new position in Upstart in the 4th quarter worth approximately $32,000. Farther Finance Advisors LLC lifted its position in Upstart by 24.2% in the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after acquiring an additional 172 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in Upstart during the 4th quarter valued at $62,000. Finally, GAMMA Investing LLC boosted its stake in Upstart by 23.3% during the 1st quarter. GAMMA Investing LLC now owns 1,662 shares of the company’s stock valued at $77,000 after purchasing an additional 314 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

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.