Upstart Holdings, Inc. (UPST)

Over the past six months, Upstart's stock price has been influenced by several events. In early November 2025, Upstart announced strong Q3 2025 results but issued lower-than-expected Q4 guidance, leading to a stock decline. The stock also slipped in October 2025 following a convertible notes offering announcement. Conversely, in early November 2025, Upstart announced a $1.5 billion forward-flow agreement with Castlelake. UPST shares have historically moved lower after earnings reports. The share price as of November 25, 2025, was $41.77, a significant decline from $78.43 on November 27, 2024.

Information directly detailing the seasonality of demand for Upstart's products and services is not explicitly available. However, the company's Q3 2025 earnings report indicated rapid growth in consumer demand for Upstart, with over 2 million applications submitted, up more than 30% from Q2, suggesting strong and growing demand.

Upstart Holdings, Inc. operates a cloud-based AI lending platform connecting consumers with AI-enabled bank and credit union partners. The platform facilitates personal loans, automotive retail and refinance loans, HELOCs, and small dollar loans. Upstart's technology aims to improve approval and lower loss rates compared to traditional credit scoring methods.

Upstart Holdings, Inc. primarily operates and serves customers within the United States. The company is headquartered in San Mateo, California, with an additional presence in Columbus, Ohio.

Upstart's brand reputation is characterized by its leadership in AI lending and its ability to offer superior credit products. The company emphasizes that its AI models enable lenders to approve more borrowers at lower rates across various demographics. Upstart's innovative AI platform is considered a significant competitive advantage, driving growth by efficiently aggregating consumer demand and connecting it with its bank partners.

Upstart Holdings, Inc. has a diverse ownership structure, with institutional shareholders owning approximately 60.43% to 66.12% of the company's stock, insiders holding around 12.84% to 43.29%, and retail investors accounting for approximately 0.00% to 57.46%. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., Susquehanna International Group, Llp, Jericho Capital Asset Management L.P., Citadel Advisors Llc, Slate Path Capital LP, State Street Corp, Geode Capital Management LLC, Morgan Stanley and Goldman Sachs Group Inc. Key individual owners include Daniel S. Loeb, the largest individual shareholder, and Dave Girouard, a co-founder.