Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) CFO Sells $51,630.00 in Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CFO Sanjay Datta sold 1,500 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $34.42, for a total value of $51,630.00. Following the completion of the transaction, the chief financial officer now directly owns 343,093 shares in the company, valued at approximately $11,809,261.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, September 9th, Sanjay Datta sold 1,500 shares of Upstart stock. The shares were sold at an average price of $34.85, for a total transaction of $52,275.00.
• On Tuesday, September 3rd, Sanjay Datta sold 1,500 shares of Upstart stock. The stock was sold at an average price of $41.77, for a total transaction of $62,655.00.
• On Monday, August 19th, Sanjay Datta sold 1,500 shares of Upstart stock. The stock was sold at an average price of $37.00, for a total transaction of $55,500.00.
• On Monday, August 5th, Sanjay Datta sold 1,000 shares of Upstart stock. The shares were sold at an average price of $20.98, for a total transaction of $20,980.00.
• On Monday, July 29th, Sanjay Datta sold 1,000 shares of Upstart stock. The stock was sold at an average price of $26.31, for a total value of $26,310.00.
• On Monday, July 22nd, Sanjay Datta sold 1,000 shares of Upstart stock. The shares were sold at an average price of $28.15, for a total value of $28,150.00.
• On Monday, July 15th, Sanjay Datta sold 1,000 shares of Upstart stock. The stock was sold at an average price of $27.80, for a total value of $27,800.00.
• On Monday, July 8th, Sanjay Datta sold 1,000 shares of Upstart stock. The stock was 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 shares were 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.

Upstart Trading Down 0.6 %

NASDAQ UPST opened at $39.74 on Friday. Upstart Holdings, Inc. has a 12-month low of $19.84 and a 12-month high of $49.62. The company has a fifty day simple moving average of $34.31 and a two-hundred day simple moving average of $27.86. The stock has a market cap of $3.49 billion, a P/E ratio of -19.29 and a beta of 2.03.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. Upstart’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that Upstart Holdings, Inc. will post -2.39 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on UPST. Citigroup raised shares of Upstart from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $15.00 to $33.00 in a research note on Wednesday, August 7th. Mizuho upped their price objective on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays lifted their target price on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Finally, Piper Sandler raised their price target on shares of Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $28.45.

Institutional Investors Weigh In On Upstart

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UPST. Newbridge Financial Services Group Inc. boosted its stake in shares of Upstart by 10.4% in the second quarter. Newbridge Financial Services Group Inc. now owns 9,589 shares of the company’s stock worth $226,000 after buying an additional 900 shares during the last quarter. Algert Global LLC purchased a new position in Upstart during the second quarter valued at approximately $255,000. The Manufacturers Life Insurance Company lifted its holdings in Upstart by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 44,301 shares of the company’s stock valued at $1,045,000 after acquiring an additional 2,976 shares during the period. Millennium Management LLC boosted its position in Upstart by 1,792.9% in the 2nd 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 in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Upstart by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 19,894 shares of the company’s stock worth $469,000 after purchasing an additional 6,552 shares during the period. 63.01% of the stock is owned by institutional investors and hedge funds.

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.