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 the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $39.67, for a total transaction of $245,954.00. Following the transaction, the insider now owns 161,043 shares in the company, valued at $6,388,575.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 shares were 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 stock was sold at an average price of $45.00, for a total value of $405,000.00.

Upstart Trading Up 6.1 %

Shares of UPST opened at $41.30 on Friday. The stock has a 50 day moving average of $36.57 and a 200 day moving average of $28.85. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of -20.05 and a beta of 2.01. Upstart Holdings, Inc. has a 12 month low of $19.84 and a 12 month high of $49.62.

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

Institutional Trading of Upstart

Several hedge funds have recently added to or reduced their stakes in UPST. Vanguard Group Inc. grew its position in shares of Upstart by 1.6% during the 1st 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 period. Liontrust Investment Partners LLP lifted its stake in Upstart by 26.1% in the second 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 last quarter. Bank of New York Mellon Corp grew its holdings in Upstart by 15.3% during the second 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 during the period. Millennium Management LLC increased its position in Upstart by 1,792.9% in the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after buying an additional 277,896 shares during the last quarter. Finally, Seven Eight Capital LP raised its stake in shares of Upstart by 18.1% in the second quarter. Seven Eight Capital LP now owns 223,608 shares of the company’s stock valued at $5,275,000 after buying an additional 34,223 shares during the period. Institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wedbush restated an “underperform” rating and set a $10.00 price target on shares of Upstart in a research note on Wednesday, August 7th. Barclays upped their target price on shares of Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Citigroup upgraded Upstart from a “sell” rating to a “neutral” rating and lifted their price target for the company from $15.00 to $33.00 in a research note on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Finally, Piper Sandler upped their price target on Upstart from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Upstart presently has an average rating of “Hold” and an average price target of $27.61.

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.