Magnetar Financial LLC Sells 9,268 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Magnetar Financial LLC cut its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 44.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,602 shares of the company’s stock after selling 9,268 shares during the period. Magnetar Financial LLC’s holdings in Upstart were worth $714,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Rakuten Securities Inc. bought a new stake in shares of Upstart during the fourth quarter worth approximately $31,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Upstart during the third quarter worth approximately $35,000. BNP Paribas bought a new stake in shares of Upstart during the third quarter worth approximately $37,000. Prospera Private Wealth LLC bought a new stake in shares of Upstart during the third quarter worth approximately $47,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Upstart by 24.2% during the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock worth $54,000 after buying an additional 172 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Upstart Stock Up 4.5 %

Shares of UPST stock opened at $51.96 on Friday. The company’s fifty day simple moving average is $64.09 and its 200-day simple moving average is $59.57. The firm has a market cap of $4.87 billion, a PE ratio of -35.59 and a beta of 2.25. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. On average, equities analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Transactions at Upstart

In other Upstart news, CFO Sanjay Datta sold 16,070 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the sale, the chief financial officer now directly owns 295,537 shares of the company’s stock, valued at approximately $23,353,333.74. This represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Natalia Mirgorodskaya sold 794 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $62,741.88. Following the sale, the insider now directly owns 21,985 shares in the company, valued at $1,737,254.70. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,062 shares of company stock valued at $5,247,182 over the last 90 days. 18.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on UPST. B. Riley raised shares of Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $49.00 to $105.00 in a research note on Wednesday, February 12th. Bank of America boosted their price objective on shares of Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a report on Wednesday, February 12th. The Goldman Sachs Group boosted their price objective on shares of Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a report on Wednesday, February 12th. Piper Sandler restated an “overweight” rating and set a $105.00 price objective (up previously from $85.00) on shares of Upstart in a report on Wednesday, February 12th. Finally, Citigroup boosted their price objective on shares of Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.38.

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.