Upstart (UPST)

Company Profile

founded by ex-googlers, upstart is the first lending platform to leverage artificial intelligence and machine learning to price credit and automate the borrowing process. upstart has demonstrated unparalleled credit performance and the industry’s highest consumer ratings. in addition to its direct-to-consumer lending platform, upstart provides technology to banks, credit unions and other partners via a saas offering called powered by upstart. learn more about upstart at https://www.upstart.com/about. find out how to join the team here at https://www.upstart.com/careers!

Company profile

Ticker

UPST

Exchange

Website

Incorporated

Location

Fiscal year end

Sector

Finance and Insurance > Credit Card Issuing

Industry (SIC)

Finance Services

American Express • Synchrony Financial • General Motors Financial • loanDepot • SoFi • Coinbase Global • Burford Capital Limited • Beneficient • Qudian • LexinFintech ...

SEC CIK

0001647639

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Upstart Network, Inc. ...

IRS number

464332431

UPST stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$60.50

Low target

$49.00

High target

$72.00

Latest filings (excl ownership)

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8 Aug 23

Upstart Announces Second Quarter 2023 Results

8 Aug 23

8-K

Submission of Matters to a Vote of Security Holders

9 May 23

Upstart Announces First Quarter 2023 Results

9 May 23

ARS

2022 FY

Annual report to shareholders

11 Apr 23

DEFA14A

Additional proxy soliciting materials

11 Apr 23

Departure of Directors or Certain Officers

2 Mar 23

S-8

Registration of securities for employees

17 Feb 23

Transcripts

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UPST

Earnings call transcript

2023 Q2

8 Aug 23

UPST

Earnings call transcript

2023 Q1

9 May 23

UPST

Earnings call transcript

2022 Q3

9 Nov 22

UPST

Earnings call transcript

2022 Q2

9 Aug 22

UPST

Earnings call transcript

2022 Q1

10 May 22

UPST

Earnings call transcript

2021 Q4

15 Feb 22

UPST

Earnings call transcript

2021 Q2

11 Aug 21

UPST

Earnings call transcript

2021 Q1

12 May 21

Latest ownership filings

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Notice of proposed sale of securities

2 Oct 23

144

Notice of proposed sale of securities

Notice of proposed sale of securities

25 Sep 23

144

Notice of proposed sale of securities

Notice of proposed sale of securities

18 Sep 23

Financial summary

Financial statements Chart UPST financial data

Quarter (USD)	Jun 23	Mar 23	Dec 22	Sep 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 22	Dec 21	Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

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)	509.89 mm	509.89 mm	509.89 mm	509.89 mm	509.89 mm	509.89 mm
Cash burn (monthly)	(no burn)	33.71 mm	11.11 mm	23.48 mm	(no burn)	22.30 mm
Cash used (since last report)	n/a	106.89 mm	35.24 mm	74.45 mm	n/a	70.71 mm
Cash remaining	n/a	403.00 mm	474.65 mm	435.44 mm	n/a	439.19 mm
Runway (months of cash)	n/a	12.0	42.7	18.5	n/a	19.7

Beta Read what these cash burn values mean

Financial data from Upstart earnings reports.

Institutional ownership, Q2 2023

UPST institutional ownership history Ownership history

48.3% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	298	260	+14.6%
Opened positions	82	44	+86.4%
Closed positions	44	54	-18.5%
Increased positions	70	73	-4.1%
Reduced positions	66	58	+13.8%

13F shares	Current	Prev Q	Change
Total value	1.26 tn	453.59 bn	+177.8%
Total shares	40.49 mm	33.82 mm	+19.7%
Total puts	9.55 mm	10.45 mm	-8.6%
Total calls	6.08 mm	5.82 mm	+4.6%
Total put/call ratio	1.6	1.8	-12.6%

Largest owners	Shares	Value	Change
Vanguard	6.77 mm	$242.38 bn	+5.5%
BLK Blackrock	5.37 mm	$192.47 bn	+66.5%
Khosla Ventures Associates V	5.25 mm	$213.88 mm	0.0%
D. E. Shaw & Co.	2.58 mm	$92.30 bn	+11436.9%
BMO Bank of Montreal	2.07 mm	$77.58 bn	NEW
STT State Street	1.72 mm	$61.75 bn	+47.7%
Coatue Management	1.66 mm	$59.62 bn	0.0%
Geode Capital Management	1.44 mm	$51.44 bn	+39.6%
GS Goldman Sachs	1.30 mm	$46.59 bn	+58.9%
MS Morgan Stanley	1.16 mm	$41.41 bn	-6.6%

Largest transactions	Shares	Bought/sold	Change
D. E. Shaw & Co.	2.58 mm	+2.56 mm	+11436.9%
BLK Blackrock	5.37 mm	+2.15 mm	+66.5%
BMO Bank of Montreal	2.07 mm	+2.07 mm	NEW
BAC Bank Of America	162.07 k	-1.48 mm	-90.1%
Voloridge Investment Management	1.03 mm	+1.03 mm	NEW
JPM JPMorgan Chase & Co.	335.06 k	-1.02 mm	-75.3%
SG Americas Securities	6.95 k	-1.00 mm	-99.3%
STT State Street	1.72 mm	+556.57 k	+47.7%
GS Goldman Sachs	1.30 mm	+482.07 k	+58.9%
NTRS Northern Trust	710.65 k	+416.51 k	+141.6%

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
2 Oct 23	Paul Gu	Common Stock	Sell	Dispose S	No	Yes	28.5034	15,000	427.55 k	867,576
2 Oct 23	Paul Gu	Common Stock	Option exercise	Acquire M	No	Yes	0.43	15,000	6.45 k	882,576
2 Oct 23	Paul Gu	Employee Stock Option Common Stock	Option exercise	Dispose M	No	Yes	0.43	15,000	6.45 k	90,000
2 Oct 23	Sanjay Datta	Common Stock	Sell	Dispose S	No	Yes	28.74	1,000	28.74 k	394,764
25 Sep 23	Sanjay Datta	Common Stock	Sell	Dispose S	No	Yes	26	1,000	26.00 k	395,764
25 Sep 23	Darling Scott	Common Stock	Sell	Dispose S	No	Yes	26.5809	1,000	26.58 k	183,588
18 Sep 23	Sanjay Datta	Common Stock	Sell	Dispose S	No	Yes	29.5	1,000	29.50 k	396,764