Two insiders at Upstart, including the new CEO Paul Gu and director Dave Girouard, made open-market purchases totaling $6.37M over a 7-day window following the Q1 2026 earnings release. The cluster represents ~0.25% of market cap, a modest but notable signal, amplified by the CEO's first open-market buy since taking the role and the proximity to strong earnings results (revenue +44% YoY, originations +61%).
Price Chart
Executive Summary
Two insiders at Upstart, including the new CEO Paul Gu and director Dave Girouard, made open-market purchases totaling $6.37M over a 7-day window following the Q1 2026 earnings release. The cluster represents ~0.25% of market cap, a modest but notable signal, amplified by the CEO's first open-market buy since taking the role and the proximity to strong earnings results (revenue +44% YoY, originations +61%).
Key Financial Metrics
Key Facts
- CEO Paul Gu purchased 50,000 shares at $27.50 for $1.38M on May 13, 2026 — his first open-market buy as CEO.
- Director Dave Girouard purchased 169,900 shares at $29.37 for $4.99M on May 7, 2026.
- Total insider buying cluster of $6.37M represents ~0.25% of Upstart's $2.6B market cap.
- Purchases occurred 1-8 days after Upstart reported Q1 2026 revenue of $308M (+44% YoY) and originations of $3.4B (+61% YoY).
- Q1 2026 net loss widened to $6.6M from $2.4M YoY, but adjusted EBITDA of $40.5M remained positive and full-year 2026 revenue guidance of ~$1.4B was reaffirmed.
Financial Impact
Insider purchases of $6.37M represent ~0.25% of market cap — a modest but meaningful signal, amplified by CEO participation and proximity to strong earnings.
Risk Factors
- Net loss widened YoY and adjusted EBITDA margin compressed from 20% to 13%, indicating rising costs.
- The cluster is only 2 insiders — broader C-suite participation would strengthen the signal.
- Historical calibration shows UPST insider cluster reports have mixed T+20 outcomes (50% win rate, avg net alpha -0.61% in this segment).
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-UPST-1778761483029 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 21d ago | Insider Cluster | $25.59 $25.00 | ▼ −2.31% | ▼ −2.08% | $22.81 (−10.86%) |
Aug 27, 2026 5w ago | Insider Cluster | $29.08 $28.05 | ▼ −3.54% | ▼ −3.65% | $22.81 (−21.56%) |
Aug 21, 2026 5w ago | Insider Cluster | $29.89 $28.68 | ▲ +4.05% | ▲ +4.52% | $22.81 (+23.69%) |
Aug 19, 2026 6w ago | Insider Cluster | $30.60 $30.47 | ▼ −0.42% | ▼ −0.04% | $22.81 (−25.46%) |
May 27, 2026 18w ago | Insider Cluster | $32.69 $32.27 | ▼ −1.28% | ▼ −1.60% | $22.81 (−30.22%) |
May 20, 2026 19w ago | 144 | $28.85 $32.69 | ▲ +13.31% | ▲ +11.71% | $22.81 (−20.94%) |
May 19, 2026 19w ago | 8-K | $28.08 $30.45 | ▲ +8.44% | ▲ +6.19% | $22.81 (−18.77%) |
May 18, 2026 19w ago | Insider Cluster | $28.08 $30.45 | ▲ +8.44% | ▲ +6.19% | $22.81 (−18.77%) |
May 15, 2026 20w ago | 144 | $27.94 $30.62 | ▲ +9.59% | ▲ +7.97% | $22.81 (−18.36%) |
May 7, 2026 21w ago | Insider Cluster | $29.00 $29.71 | ▲ +2.45% | ▲ +0.15% | $22.81 (−21.34%) |
US Market Status
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