Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) CFO Sells 1,000 Shares of Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $28.15, for a total transaction of $28,150.00. Following the sale, the chief financial officer now owns 373,398 shares of the company’s stock, valued at $10,511,153.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Sanjay Datta also recently made the following trade(s):

• On Monday, July 15th, Sanjay Datta sold 1,000 shares of Upstart stock. The shares were sold at an average price of $27.80, for a total transaction of $27,800.00.
• On Monday, July 8th, Sanjay Datta sold 1,000 shares of Upstart stock. The shares were sold at an average price of $23.41, for a total transaction of $23,410.00.
• On Monday, July 1st, Sanjay Datta sold 1,000 shares of Upstart stock. The stock was sold at an average price of $23.63, for a total transaction of $23,630.00.
• On Monday, June 24th, Sanjay Datta sold 1,000 shares of Upstart stock. The stock was sold at an average price of $21.68, for a total transaction of $21,680.00.
• On Monday, June 3rd, Sanjay Datta sold 1,000 shares of Upstart stock. The stock was sold at an average price of $25.49, for a total transaction of $25,490.00.
• On Tuesday, May 28th, Sanjay Datta sold 1,000 shares of Upstart stock. The stock was sold at an average price of $23.71, for a total transaction of $23,710.00.
• On Monday, May 20th, Sanjay Datta sold 18,138 shares of Upstart stock. The stock was sold at an average price of $25.61, for a total transaction of $464,514.18.

Upstart Stock Down 9.4 %

NASDAQ:UPST traded down $2.61 during trading hours on Wednesday, hitting $25.02. 5,721,079 shares of the stock traded hands, compared to its average volume of 6,044,409. Upstart Holdings, Inc. has a 1 year low of $19.84 and a 1 year high of $72.58. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -12.49 and a beta of 1.97. The stock has a 50 day moving average price of $24.73 and a 200 day moving average price of $26.48.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.06. Upstart had a negative net margin of 32.59% and a negative return on equity of 27.89%. The business had revenue of $127.79 million for the quarter, compared to the consensus estimate of $124.82 million. Equities analysts forecast that Upstart Holdings, Inc. will post -2.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. JMP Securities reiterated a “market perform” rating on shares of Upstart in a research note on Wednesday, April 17th. BTIG Research assumed coverage on shares of Upstart in a report on Friday, June 7th. They issued a “sell” rating and a $14.00 price objective on the stock. Redburn Atlantic raised shares of Upstart from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $22.50 to $25.50 in a report on Tuesday, June 4th. Mizuho dropped their price objective on shares of Upstart from $23.00 to $17.00 and set an “underperform” rating on the stock in a report on Thursday, May 9th. Finally, Bank of America assumed coverage on shares of Upstart in a report on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective on the stock. Six equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.65.

Hedge Funds Weigh In On Upstart

Several large investors have recently added to or reduced their stakes in UPST. Norges Bank bought a new stake in shares of Upstart during the fourth quarter valued at approximately $19,017,000. International Assets Investment Management LLC raised its position in shares of Upstart by 3,532.7% during the fourth quarter. International Assets Investment Management LLC now owns 329,740 shares of the company’s stock valued at $13,473,000 after buying an additional 320,663 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Upstart by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock valued at $286,589,000 after buying an additional 157,719 shares during the last quarter. Seven Eight Capital LP raised its position in shares of Upstart by 349.1% during the first quarter. Seven Eight Capital LP now owns 189,385 shares of the company’s stock valued at $5,093,000 after buying an additional 147,213 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Upstart by 442.1% during the second quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock valued at $3,496,000 after buying an additional 120,871 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

About Upstart

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.