Upstart (NASDAQ:UPST) Holdings, Inc. (NASDAQ:UPST) CEO Dave Girouard has sold a portion of his company stock, according to a recent filing with the Securities and Exchange Commission. The transaction involved the sale of 2,997 shares of common stock at prices ranging from $25.26 to $26.21, with a weighted average price of $25.6199 per share. The total value of the shares sold by Girouard is approximately $76,782.
The sale took place on May 20, 2024, and was executed to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). Following the sale, Girouard still holds a significant number of shares in the company, with 64,873 shares of common stock remaining in his direct possession.
Additionally, the CEO has indirect ownership of Upstart Holdings stock through various trusts. These include 8,342,701 shares held by the 2008 D&T Girouard Revocable Trust, for which Girouard serves as Trustee. Other indirect holdings include 1,000,000 shares in the DTG GRAT LLC, 546,501 shares in the TMG 2020 EXEMPT GIFT TRUST, the same amount in the JRG 2020 EXEMPT GIFT TRUST, and 126,057 shares each in the TMG 2020 NONEXEMPT GIFT TRUST and the JRG 2020 NONEXEMPT GIFT TRUST.
The SEC filing provides a detailed account of the CEO's stock holdings and transactions, offering transparency to investors and the market. Upstart Holdings, Inc., headquartered in San Mateo, California, operates in the financial services sector, providing an AI-driven lending platform that improves access to affordable credit while reducing the risks and costs of lending for its bank partners.
InvestingPro Insights
As Upstart Holdings, Inc. (NASDAQ:UPST) navigates the complexities of the financial services sector with its innovative AI-driven lending platform, recent market data and analysis from InvestingPro provides a deeper look into the company's financial health and stock performance. As of the last twelve months leading up to Q1 2024, Upstart's market capitalization stands at $2.14 billion, reflecting the scale of its presence in the industry despite recent challenges.
InvestingPro Tips indicate that analysts are showing concern, as evidenced by the fact that 9 analysts have revised their earnings expectations downwards for the upcoming period. This aligns with the observation that the company has not been profitable over the last twelve months. In addition, the stock has experienced significant volatility, with a notable decrease over the last week, and analysts do not anticipate the company will turn a profit this year.
On the financial metrics front, Upstart's P/E ratio is currently negative at -11.77, which may raise caution among potential investors looking for immediate profitability. However, the company's gross profit margin remains strong at 74.13%, indicating that while net profitability is elusive, the company is effective at generating revenue from its core operations. Lastly, despite the lack of dividend payouts, Upstart's liquid assets exceed its short-term obligations, suggesting a level of financial stability in terms of liquidity.
For investors seeking a comprehensive analysis and additional insights, InvestingPro offers further tips on Upstart Holdings, Inc. There are 6 more InvestingPro Tips available, which can be accessed through the platform. Interested readers can also benefit from a special offer by using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.