Sanjay Datta Sells 16,070 Shares of Upstart Holdings, Inc. (NASDAQ:UPST) Stock

Upstart Holdings, Inc. (NASDAQ:UPST) CFO Sanjay Datta sold 16,070 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $1,269,851.40. Following the completion of the sale, the chief financial officer now owns 295,537 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Upstart Trading Down 5.1 %

NASDAQ:UPST opened at $66.91 on Wednesday. The business’s fifty day moving average price is $67.77 and its 200 day moving average price is $58.01. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of -45.83 and a beta of 2.25. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $96.43.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. Equities analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP increased its stake in shares of Upstart by 190.2% in the fourth quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company’s stock worth $105,242,000 after acquiring an additional 1,120,300 shares during the last quarter. Marshall Wace LLP increased its position in Upstart by 300.2% in the 4th quarter. Marshall Wace LLP now owns 1,061,512 shares of the company’s stock worth $65,357,000 after purchasing an additional 796,252 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of Upstart by 153.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after purchasing an additional 754,416 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Upstart during the 4th quarter valued at about $43,697,000. Finally, Invesco Ltd. grew its stake in shares of Upstart by 886.0% in the 4th quarter. Invesco Ltd. now owns 709,684 shares of the company’s stock valued at $43,695,000 after buying an additional 637,706 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on UPST. Wedbush raised their price target on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and raised their target price for the company from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Needham & Company LLC raised their price objective on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and upped their target price for the stock from $49.00 to $105.00 in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $57.00 to $79.00 in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Upstart 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.