Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) CEO Sells $2,714,605.05 in Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CEO Dave Girouard sold 41,667 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $65.15, for a total value of $2,714,605.05. Following the completion of the transaction, the chief executive officer now directly owns 61,512 shares in the company, valued at approximately $4,007,506.80. This represents a 40.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, August 20th, Dave Girouard sold 3,361 shares of Upstart stock. The shares were sold at an average price of $38.35, for a total transaction of $128,894.35.

Upstart Stock Performance

UPST opened at $67.39 on Friday. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of -35.19 and a beta of 1.97. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $86.07. The company has a fifty day moving average of $46.54 and a 200 day moving average of $34.49.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Upstart during the third quarter valued at approximately $35,000. Point72 Hong Kong Ltd bought a new position in shares of Upstart during the 3rd quarter valued at approximately $102,000. Edgestream Partners L.P. purchased a new position in shares of Upstart in the third quarter valued at $727,000. Fred Alger Management LLC increased its position in Upstart by 153.2% in the third quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after purchasing an additional 754,416 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in Upstart during the third quarter valued at $202,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on UPST. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $30.00 to $45.00 in a research report on Friday, November 8th. Piper Sandler raised shares of Upstart from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $31.00 to $85.00 in a research report on Friday, November 8th. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and raised their target price for the stock from $56.00 to $87.00 in a report on Friday, November 8th. Wedbush upped their price target on Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Mizuho raised their price objective on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.83.

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.