Upstart (NASDAQ:UPST) CEO Paul Gu Acquires 50,000 Shares of Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CEO Paul Gu purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The stock was acquired at an average cost of $20.57 per share, for a total transaction of $1,028,500.00. Following the completion of the acquisition, the chief executive officer owned 180,000 shares in the company, valued at $3,702,600. This represents a 38.46% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, September 10th, Paul Gu acquired 50,000 shares of Upstart stock. The shares were bought at an average cost of $25.55 per share, with a total value of $1,277,500.00.

Upstart Stock Performance

UPST traded up $0.41 during trading on Friday, reaching $19.56. 5,013,744 shares of the company traded hands, compared to its average volume of 5,150,480. Upstart Holdings, Inc. has a 12-month low of $18.91 and a 12-month high of $52.10. The firm has a fifty day simple moving average of $23.70 and a 200 day simple moving average of $28.76. The company has a market cap of $1.93 billion, a P/E ratio of 33.15, a PEG ratio of 1.86 and a beta of 2.48.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, November 3rd. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.20 by $0.13. Upstart had a net margin of 4.86% and a return on equity of 9.67%. The firm had revenue of $370.52 million for the quarter, compared to the consensus estimate of $362.68 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. As a group, sell-side analysts expect that Upstart Holdings, Inc. will post 0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UPST. Asset Management One Co. Ltd. lifted its holdings in shares of Upstart by 33.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,790 shares of the company’s stock valued at $41,000 after purchasing an additional 446 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Upstart by 26.7% in the 2nd quarter. Versant Capital Management Inc now owns 2,905 shares of the company’s stock worth $103,000 after purchasing an additional 612 shares in the last quarter. State of Wyoming boosted its position in shares of Upstart by 10.8% in the 1st quarter. State of Wyoming now owns 6,901 shares of the company’s stock worth $177,000 after purchasing an additional 674 shares in the last quarter. Parallel Advisors LLC grew its stake in Upstart by 76.7% during the 3rd quarter. Parallel Advisors LLC now owns 1,656 shares of the company’s stock worth $38,000 after buying an additional 719 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Upstart by 25.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,307 shares of the company’s stock worth $99,000 after buying an additional 881 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Loop Capital initiated coverage on shares of Upstart in a research note on Tuesday, September 8th. They issued a “hold” rating and a $34.00 price target on the stock. The Goldman Sachs Group dropped their price objective on shares of Upstart from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, November 4th. Stephens initiated coverage on Upstart in a research report on Wednesday, November 4th. They set an “equal weight” rating and a $24.00 price objective for the company. Needham & Company LLC reduced their target price on Upstart from $42.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, November 3rd. Finally, Mizuho set a $35.00 target price on Upstart in a report on Wednesday, November 4th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.40.

Upstart Company Profile

Upstart Holdings, Inc. operates an artificial intelligence–based lending marketplace that connects consumers seeking loans with banks and credit unions. Its platform uses machine-learning models and borrower data to help lending partners assess credit risk and make lending decisions. The company’s offerings include personal loans and technology for auto lending, including auto retail and refinancing. Upstart was founded in 2012 by Dave Girouard, Paul Gu and Anna Counselman. Girouard serves as the company’s chief executive officer.