Upstart holdings CFO Sanjay Datta sells $119,310 in stock

SAN MATEO, CA—Sanjay Datta, the Chief Financial Officer of Upstart (NASDAQ:UPST) Holdings, Inc. (NASDAQ:UPST), recently sold 1,500 shares of the company's common stock. The transaction, which took place on November 11, was executed at an average price of $79.54 per share, totaling approximately $119,310.

This sale was conducted under a Rule 10b5-1 trading plan adopted by Datta earlier this year on February 26. Following the transaction, Datta holds 331,093 shares of Upstart Holdings, including certain restricted stock units (RSUs) that are subject to vesting conditions.

Upstart Holdings, a company operating in the finance services sector, is headquartered in San Mateo, California. The firm is known for its AI-driven lending platform, which aims to improve access to affordable credit.

In other recent news, Upstart Holdings, a cloud-based artificial intelligence lending platform, announced plans for a private offering of $425 million in Convertible Senior Notes due 2030. The company aims to use the proceeds from the offering for general corporate purposes. Additionally, Upstart reported a 43% sequential increase in lending volume and a rise in revenue in its third quarter. This growth was driven by successful expansion into the auto loan and home equity line of credit markets.

Analysts at Mizuho (NYSE:MFG) have raised the price target for Upstart, maintaining an Outperform rating on the stock, based on the company's positive performance and increased fourth-quarter guidance. Meanwhile, BTIG upgraded Upstart's stock rating from Sell to Neutral, citing the potential for accelerated volume growth.

In line with these developments, Upstart secured a strategic partnership with Blue Owl, guaranteeing up to $2 billion in loan purchases over the next 18 months. These recent developments underscore Upstart's ongoing commitment to growth in the lending sector.

InvestingPro Insights

Recent market data from InvestingPro sheds additional light on Upstart Holdings' financial position and stock performance, providing context to CFO Sanjay Datta's recent stock sale.

Upstart's stock has shown remarkable volatility and growth, with a significant 210.44% return over the past year. This aligns with an InvestingPro Tip indicating that the stock "generally trades with high price volatility." The recent surge is further evidenced by the 44.19% return over the last month and a striking 147.17% increase over the past six months.

Despite these impressive gains, it's worth noting that Upstart is not currently profitable. An InvestingPro Tip highlights that "analysts do not anticipate the company will be profitable this year." This is reflected in the negative P/E ratio of -31.41 for the last twelve months as of Q3 2024.

However, Upstart's financial health isn't all gloomy. The company's revenue for the last twelve months stands at $604.94 million, with a robust gross profit margin of 74.62%. Additionally, an InvestingPro Tip points out that "liquid assets exceed short term obligations," suggesting a stable short-term financial position.

For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for Upstart Holdings, providing a deeper dive into the company's financial landscape and market position.

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