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Scott Darling, the Chief Legal Officer of Upstart Holdings, Inc. (NASDAQ:UPST), a fintech company with a market capitalization of $4.55 billion, recently executed a series of stock transactions, according to a recent SEC filing. According to InvestingPro data, the stock has shown significant volatility, trading between $20.60 and $96.43 over the past 52 weeks. On April 29 and May 1, Darling sold a total of 2,000 shares of common stock, generating proceeds of approximately $100,427. The shares were sold at prices ranging from $50.1572 to $50.27, above the current trading price of $47.69.
In addition to the sales, Darling also exercised stock options to acquire 2,000 shares at a price of $13.22 per share. Following these transactions, Darling holds a total of 150,129 shares of Upstart Holdings.
These transactions were conducted under a pre-established Rule 10b5-1 trading plan, which Darling adopted in November 2024.
In other recent news, Upstart Holdings Inc . announced the initiation of a $500 million at-the-market equity offering program. The company has entered into a Sales Agreement with BTIG, LLC, allowing for the sale of common stock, with proceeds intended for general corporate purposes. In a separate development, Upstart has upgraded its stock rating from Underperform to Neutral by BofA Securities, which also set a price target of $53. This follows a significant decline in Upstart’s share price, aligning its valuation with BofA’s expectations. Additionally, Upstart has partnered with First Commonwealth (NYSE:FCF) Federal Credit Union to enhance personal loan availability in Pennsylvania and New Jersey. The collaboration aims to broaden the credit union’s service offerings while providing financial guidance to low- and moderate-income individuals. Furthermore, Upstart has appointed Peter Bernard to its Board of Directors, bringing extensive experience in banking and risk management. These developments reflect Upstart’s ongoing efforts to expand its market presence and strengthen its financial strategies.
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