Upstart (UPST)

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	976.26 mm	976.26 mm	976.26 mm	976.26 mm	976.26 mm	976.26 mm
Cash burn (monthly)	(no burn)	(no burn)	1.58 mm	12.74 mm	36.98 mm	6.73 mm
Cash used (since last report)	n/a	n/a	4.24 mm	34.12 mm	99.01 mm	18.02 mm
Cash remaining	n/a	n/a	972.02 mm	942.15 mm	877.26 mm	958.24 mm
Runway (months of cash)	n/a	n/a	613.9	73.9	23.7	142.4

Beta Read what these cash burn values mean

Financial data from Upstart earnings reports.

Institutional ownership, Q4 2024

UPST institutional ownership history Ownership history

73.0% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	404	354	+14.1%
Opened positions	108	101	+6.9%
Closed positions	58	25	+132.0%
Increased positions	112	81	+38.3%
Reduced positions	107	81	+32.1%

13F shares	Current	Prev Q	Change
Total value	3.54 tn	1.89 tn	+86.8%
Total shares	68.36 mm	54.81 mm	+24.7%
Total puts	18.32 mm	11.66 mm	+57.2%
Total calls	14.31 mm	10.57 mm	+35.4%
Total put/call ratio	1.3	1.1	+16.1%

Largest owners	Shares	Value	Change
Vanguard	7.79 mm	$479.84 bn	+5.0%
BlackRock	6.31 mm	$388.60 bn	+9.1%
Khosla Ventures Associates V	5.25 mm	$213.88 mm	0.0%
D. E. Shaw & Co	4.60 mm	$309.61 mm	NEW
D. E. Shaw & Co.	3.29 mm	$202.43 bn	+42.1%
MS Morgan Stanley	2.63 mm	$162.10 bn	+84.4%
GS The Goldman Sachs Group, Inc. PFD 1/1000 C	2.41 mm	$148.59 bn	+41.4%
STT State Street	2.03 mm	$125.08 bn	-10.3%
Two Sigma Investments	1.92 mm	$118.38 bn	+20.1%
Fred Alger Management	1.92 mm	$117.91 bn	+53.6%

Largest transactions	Shares	Bought/sold	Change
D. E. Shaw & Co	4.60 mm	+4.60 mm	NEW
BNP Paribas Arbitrage	1.57 mm	+1.57 mm	NEW
Susquehanna International	532.13 k	-1.38 mm	-72.2%
MS Morgan Stanley	2.63 mm	+1.20 mm	+84.4%
Two Sigma Advisers	1.71 mm	+1.12 mm	+190.2%
D. E. Shaw & Co.	3.29 mm	+973.50 k	+42.1%
BCS Barclays	399.63 k	-810.10 k	-67.0%
Marshall Wace	1.06 mm	+796.25 k	+300.2%
Fuller & Thaler Asset Management	709.71 k	+709.71 k	NEW
GS The Goldman Sachs Group, Inc. PFD 1/1000 C	2.41 mm	+706.72 k	+41.4%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

UPST insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
10 Mar 25	Paul Gu	Common Stock	Option exercise	Acquire M	No	No	25.75	4,844	124.73 k	1,072,156
10 Mar 25	Paul Gu	Common Stock	Option exercise	Acquire M	No	No	15.23	13,269	202.09 k	1,067,312
10 Mar 25	Paul Gu	Employee Stock Option Common Stock	Option exercise	Dispose M	No	No	25.75	4,844	124.73 k	106,593
10 Mar 25	Paul Gu	Employee Stock Option Common Stock	Option exercise	Dispose M	No	No	15.23	13,269	202.09 k	285,332
6 Mar 25	Paul Gu	Common Stock	Option exercise	Acquire M	No	No	25.75	4,844	124.73 k	1,054,043
6 Mar 25	Paul Gu	Common Stock	Option exercise	Acquire M	No	No	15.23	13,269	202.09 k	1,049,199
6 Mar 25	Paul Gu	Employee Stock Option Common Stock	Option exercise	Dispose M	No	No	25.75	4,844	124.73 k	111,437
6 Mar 25	Paul Gu	Employee Stock Option Common Stock	Option exercise	Dispose M	No	No	15.23	13,269	202.09 k	298,601
3 Mar 25	Kerry Whorton Cooper	Common Stock	Sell	Dispose S	Yes	Yes	68.09	500	34.05 k	18,156
3 Mar 25	Darling Scott	Common Stock	Sell	Dispose S	No	Yes	67.8881	2,000	135.78 k	150,129