Upstart Holdings, Inc. (NASDAQ:UPST) CFO Sells $23,410.00 in Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $23.41, for a total value of $23,410.00. Following the completion of the transaction, the chief financial officer now directly owns 375,398 shares of the company’s stock, valued at $8,788,067.18. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, July 1st, Sanjay Datta sold 1,000 shares of Upstart stock. The shares were sold at an average price of $23.63, for a total value of $23,630.00.
• On Monday, June 24th, Sanjay Datta sold 1,000 shares of Upstart stock. The shares were sold at an average price of $21.68, for a total value of $21,680.00.
• On Monday, June 3rd, Sanjay Datta sold 1,000 shares of Upstart stock. The shares were sold at an average price of $25.49, for a total value 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 value 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 value of $464,514.18.

Upstart Stock Up 2.4 %

Shares of NASDAQ:UPST traded up $0.58 during midday trading on Wednesday, reaching $24.82. The company’s stock had a trading volume of 3,618,827 shares, compared to its average volume of 5,945,887. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -11.77 and a beta of 1.97. Upstart Holdings, Inc. has a 1 year low of $19.84 and a 1 year high of $72.58. The business has a 50 day moving average price of $24.10 and a 200 day moving average price of $27.32.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, May 7th. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.06. Upstart had a negative return on equity of 27.89% and a negative net margin of 32.59%. The firm had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $124.82 million. Sell-side analysts anticipate that Upstart Holdings, Inc. will post -2.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on UPST. Piper Sandler reissued a “neutral” rating and set a $28.00 price target on shares of Upstart in a research report on Tuesday, March 19th. BTIG Research began coverage on Upstart in a research report on Friday, June 7th. They set a “sell” rating and a $14.00 price target for the company. Wedbush reissued an “underperform” rating and set a $10.00 price target on shares of Upstart in a research report on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Upstart in a research report on Wednesday, May 8th. Finally, Mizuho dropped their price target on Upstart from $23.00 to $17.00 and set an “underperform” rating for the company in a research report on Thursday, May 9th. Six research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, Upstart presently has an average rating of “Hold” and a consensus target price of $21.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UPST. Norges Bank acquired a new position in Upstart in the fourth quarter valued at $19,017,000. International Assets Investment Management LLC boosted its holdings in Upstart by 3,532.7% in the fourth quarter. International Assets Investment Management LLC now owns 329,740 shares of the company’s stock valued at $13,473,000 after acquiring an additional 320,663 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Upstart by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock valued at $286,589,000 after acquiring an additional 157,719 shares during the last quarter. Seven Eight Capital LP boosted its holdings in Upstart by 349.1% in the first quarter. Seven Eight Capital LP now owns 189,385 shares of the company’s stock valued at $5,093,000 after acquiring an additional 147,213 shares during the last quarter. Finally, Magnetar Financial LLC lifted its stake in shares of Upstart by 1,106.7% during the first quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock worth $2,616,000 after purchasing an additional 89,219 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.