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Sanjay Datta, the Chief Financial Officer of Upstart Holdings, Inc. (NASDAQ:UPST), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. On February 20, Datta sold a total of 16,070 shares, with prices ranging from $78.50 to $79.60 per share, generating proceeds of approximately $1.27 million. The transaction comes amid a remarkable period for Upstart, which has delivered a 196% return over the past year, according to InvestingPro data. The AI lending platform, currently valued at $6.6 billion, has shown significant momentum with a 71% gain in the past six months alone.
The transaction was executed to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). Following these sales, Datta holds 295,537 shares of Upstart Holdings. Notably, his remaining shares include certain RSUs, which are contingent rights to receive common stock subject to vesting conditions. The company maintains a strong financial position with a current ratio of 14.31, indicating robust liquidity. For deeper insights into Upstart’s financial health and detailed analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
In other recent news, Upstart Holdings, Inc. reported a strong performance in its fourth-quarter 2024 financial results, with revenue reaching $219 million, significantly surpassing the analyst consensus of $182.07 million and showing a 56% year-over-year increase. The company’s outlook for 2025 is optimistic, with projected revenue of approximately $1 billion, exceeding analyst expectations of $823.14 million. In a move to raise capital, Upstart initiated a $500 million at-the-market equity offering, with BTIG, LLC acting as the sales agent. The company plans to use the proceeds for general corporate purposes, including working capital.
In terms of analyst activity, Citi raised its price target for Upstart to $108, citing a 21% revenue beat and a forecasted 60% growth in fiscal year 2025. Similarly, Mizuho (NYSE:MFG) Securities increased its price target to $110, highlighting Upstart’s improved financial outlook and the potential for continued outperformance. Upstart’s strategic moves include the appointment of Peter Bernard to its Board of Directors, bringing extensive experience in banking and risk management to the company. Bernard’s expertise is expected to support Upstart’s growth and innovation in funding operations.
These developments reflect Upstart’s strategic initiatives and robust financial performance, which have drawn attention from investors and analysts alike.
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