Upstart's CFO Sold Stock as the Company Returned to Profit. Here's What to Know
This sale involved a tax withholding and a Rule 10b5-1 trading plan adopted in May.
Overview
Andrea Blankmeyer, the chief financial officer of Upstart Holdings, Inc. (NASDAQ:UPST), sold 10,175 shares in a non-discretionary transaction on August 17 and August 19, according to an SEC Form 4 filing.
Transaction value based on SEC Form 4 weighted average sale price ($29.35); post-transaction value based on the August 19 market close ($30.60).
Details
Upstart Holdings operates as a leading cloud-based AI lending platform with a market capitalization of $2.8 billion and TTM revenue of $1.2 billion, demonstrating significant scale in the fintech lending sector. The company's competitive advantage derives from its proprietary artificial intelligence technology, which enables more accurate credit risk assessment and streamlined loan origination processes compared to traditional lending methodologies. Headquartered in San Mateo, California, Upstart has established itself as a critical infrastructure provider for both direct consumer lending and institutional lending partners seeking to modernize their credit assessment capabilities.
Source
Originally published at www.fool.com.