Paul Gu Sells 16,064 Shares of Upstart Holdings, Inc. (NASDAQ:UPST) Stock

Upstart Holdings, Inc. (NASDAQ:UPST) Chief Technology Officer Paul Gu sold 16,064 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.62, for a total value of $620,365.98. Following the sale, the insider now owns 878,565 shares of the company’s stock, valued at $33,928,774.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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.
• On Monday, August 19th, Paul Gu sold 10,000 shares of Upstart stock. The shares were sold at an average price of $40.01, for a total transaction of $400,100.00.
• On Monday, July 15th, Paul Gu sold 10,000 shares of Upstart stock. The shares were sold at an average price of $30.05, for a total transaction of $300,500.00.
• On Thursday, July 11th, Paul Gu sold 10,000 shares of Upstart stock. The shares were sold at an average price of $25.88, for a total value of $258,800.00.
• On Monday, July 1st, Paul Gu sold 5,000 shares of Upstart stock. The stock was sold at an average price of $23.52, for a total value of $117,600.00.

Upstart Stock Down 3.7 %

Shares of NASDAQ:UPST opened at $34.40 on Friday. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -16.70 and a beta of 2.03. The business has a 50 day moving average price of $31.76 and a 200 day moving average price of $27.07. Upstart Holdings, Inc. has a twelve month low of $19.84 and a twelve month high of $49.62.

Upstart (NASDAQ:UPST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.22. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The company had revenue of $127.63 million during the quarter, compared to analysts’ expectations of $124.55 million. During the same period in the prior year, the business earned ($0.34) earnings per share. Upstart’s revenue for the quarter was down 6.0% compared to the same quarter last year. Analysts anticipate that Upstart Holdings, Inc. will post -2.39 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on UPST shares. Redburn Atlantic raised shares of Upstart from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $22.50 to $25.50 in a research report on Tuesday, June 4th. Mizuho upgraded shares of Upstart from an “underperform” rating to an “outperform” rating and upped their price objective for the stock from $17.00 to $31.00 in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. BTIG Research started coverage on Upstart in a research note on Friday, June 7th. They set a “sell” rating and a $14.00 price target for the company. Finally, Piper Sandler increased their price objective on Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.75.

Institutional Trading of Upstart

Several hedge funds and other institutional investors have recently bought and sold shares of UPST. Anfield Capital Management LLC acquired a new position in shares of Upstart during the second quarter valued at about $33,000. Benjamin F. Edwards & Company Inc. increased its stake in Upstart by 80.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after acquiring an additional 778 shares during the period. GAMMA Investing LLC raised its holdings in Upstart by 259.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock valued at $52,000 after acquiring an additional 1,590 shares in the last quarter. BOCHK Asset Management Ltd bought a new stake in shares of Upstart in the 4th quarter worth approximately $61,000. Finally, Comerica Bank grew its holdings in shares of Upstart by 144.0% during the 1st quarter. Comerica Bank now owns 2,313 shares of the company’s stock worth $62,000 after purchasing an additional 1,365 shares in the last quarter. 63.01% of the stock is currently 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.