Paul Gu Sells 21,214 Shares of Upstart Holdings, Inc. (NASDAQ:UPST) Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CTO Paul Gu sold 21,214 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $75.03, for a total transaction of $1,591,686.42. Following the completion of the transaction, the chief technology officer now directly owns 863,065 shares of the company’s stock, valued at approximately $64,755,766.95. This trade represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, November 15th, Paul Gu sold 65,000 shares of Upstart stock. The shares were sold at an average price of $66.58, for a total value of $4,327,700.00.
• On Monday, October 14th, Paul Gu sold 20,000 shares of Upstart stock. The stock was sold at an average price of $50.26, for a total value of $1,005,200.00.
• On Friday, October 4th, Paul Gu sold 8,800 shares of Upstart stock. The shares were sold at an average price of $40.10, for a total value of $352,880.00.
• On Tuesday, October 1st, Paul Gu sold 36,200 shares of Upstart stock. The stock was sold at an average price of $39.22, for a total transaction of $1,419,764.00.
• On Tuesday, September 3rd, Paul Gu sold 45,000 shares of Upstart stock. The shares were sold at an average price of $40.86, for a total transaction of $1,838,700.00.

Upstart Stock Up 3.7 %

NASDAQ:UPST opened at $74.06 on Friday. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $86.07. The firm’s 50 day moving average is $51.40 and its two-hundred day moving average is $36.77. The company has a market cap of $6.76 billion, a P/E ratio of -38.37 and a beta of 1.97.

Wall Street Analyst Weigh In

A number of research firms recently commented on UPST. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $31.00 to $85.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $30.00 to $45.00 in a report on Friday, November 8th. Barclays upped their price objective on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Mizuho boosted their price target on Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Upstart presently has a consensus rating of “Hold” and an average target price of $46.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fred Alger Management LLC increased its position in Upstart by 153.2% during the 3rd 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 in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Upstart by 689.5% during the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after acquiring an additional 514,400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Upstart by 63.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after purchasing an additional 282,481 shares during the period. Millennium Management LLC increased its holdings in Upstart by 1,792.9% in the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after purchasing an additional 277,896 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Upstart by 4,087.8% in the third quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock valued at $9,333,000 after purchasing an additional 227,688 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.