Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) Insider Sells $245,954.00 in Stock

Upstart Holdings, Inc. (NASDAQ:UPST) insider Scott Darling sold 6,200 shares of Upstart stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $39.67, for a total transaction of $245,954.00. Following the completion of the transaction, the insider now directly owns 161,043 shares in the company, valued at $6,388,575.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Scott Darling also recently made the following trade(s):

• On Friday, September 6th, Scott Darling sold 7,190 shares of Upstart stock. The shares were sold at an average price of $39.15, for a total value of $281,464.77.
• On Monday, August 19th, Scott Darling sold 24,000 shares of Upstart stock. The stock was sold at an average price of $40.00, for a total value of $960,000.00.
• On Thursday, August 29th, Scott Darling sold 9,000 shares of Upstart stock. The shares were sold at an average price of $45.00, for a total value of $405,000.00.

Upstart Trading Up 6.1 %

NASDAQ UPST opened at $41.30 on Friday. Upstart Holdings, Inc. has a 12 month low of $19.84 and a 12 month high of $49.62. The firm has a market capitalization of $3.70 billion, a PE ratio of -20.05 and a beta of 2.01. The business’s 50-day moving average price is $36.57 and its two-hundred day moving average price is $28.85.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.22. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The business had revenue of $127.63 million for the quarter, compared to analysts’ expectations of $124.55 million. During the same period in the prior year, the business posted ($0.34) earnings per share. The firm’s revenue was down 6.0% on a year-over-year basis. As a group, analysts forecast that Upstart Holdings, Inc. will post -2.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

UPST has been the topic of several research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Citigroup upgraded shares of Upstart from a “sell” rating to a “neutral” rating and upped their price target for the stock from $15.00 to $33.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Barclays upped their target price on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Piper Sandler lifted their price target on Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Upstart presently has an average rating of “Hold” and an average target price of $27.61.

Institutional Investors Weigh In On Upstart

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Upstart by 1.6% during the first quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock valued at $191,698,000 after acquiring an additional 115,057 shares during the last quarter. Liontrust Investment Partners LLP lifted its stake in shares of Upstart by 26.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 290,000 shares of the company’s stock valued at $6,841,000 after purchasing an additional 60,000 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Upstart by 15.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 272,430 shares of the company’s stock valued at $6,427,000 after purchasing an additional 36,206 shares in the last quarter. Millennium Management LLC grew its stake in Upstart by 1,792.9% during the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after purchasing an additional 277,896 shares during the period. Finally, Seven Eight Capital LP grew its stake in Upstart by 18.1% during the second quarter. Seven Eight Capital LP now owns 223,608 shares of the company’s stock worth $5,275,000 after purchasing an additional 34,223 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Upstart Company Profile

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions.