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Dave Girouard, Chief Executive Officer of Upstart Holdings, Inc. (NASDAQ:UPST), recently sold shares amounting to a total of $357,444. The transactions, which occurred on February 20, involved the sale of 4,524 shares of common stock. The shares were sold at prices ranging from $78.9978 to $79.58. The stock, which has shown significant volatility with a beta of 2.26, has delivered an impressive 196% return over the past year.
According to the SEC filing, these shares were sold to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). Following the transactions, Girouard holds 52,614 shares directly. Additionally, Girouard has indirect holdings through various trusts, amounting to several million shares. According to InvestingPro data, Upstart’s market capitalization stands at $6.6 billion, with analysts projecting profitability this year despite current challenges.
These transactions are part of routine financial management by company executives, and Girouard’s remaining significant holdings indicate continued confidence in the company’s future.
In other recent news, Upstart Holdings, Inc. reported strong financial results for the fourth quarter of 2024, with revenue reaching $219 million, surpassing the analyst consensus of $182.07 million. The company also provided an optimistic outlook for 2025, projecting approximately $1 billion in revenue, exceeding expectations of $823.14 million. In related developments, Upstart announced a $500 million at-the-market equity offering program, partnering with BTIG, LLC to facilitate potential stock sales. This move aims to raise capital for general corporate purposes, including working capital. Analyst firms have responded positively, with Citi raising Upstart’s stock price target to $108 from $87 and Mizuho (NYSE:MFG) increasing it to $110 from $90, both maintaining favorable ratings. Additionally, Upstart appointed Peter Bernard to its Board of Directors, bringing significant expertise in banking and risk management. Bernard’s appointment aligns with Upstart’s continued expansion in the lending market. These recent developments highlight Upstart’s strong performance and strategic initiatives in the financial sector.
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