Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) CFO Sells 16,070 Shares of 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 directly owns 295,537 shares in the company, valued at $23,353,333.74. This trade represents a 5.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Upstart Trading Down 5.1 %

Shares of UPST opened at $66.91 on Wednesday. The stock has a market cap of $6.27 billion, a PE 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. The stock has a 50 day simple moving average of $67.77 and a 200-day simple moving average of $58.01.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

UPST has been the topic of several research analyst reports. Barclays raised their price objective on shares of Upstart from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 18th. Morgan Stanley upgraded shares of Upstart from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $12.00 to $70.00 in a research report on Friday, February 14th. The Goldman Sachs Group boosted their price objective on shares of Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. Bank of America increased their target price on shares of Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. Finally, BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Upstart presently has an average rating of “Hold” and a consensus target price of $73.38.

Institutional Investors Weigh In On Upstart

A number of hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp bought a new stake in Upstart during the fourth quarter worth about $62,000. Neo Ivy Capital Management acquired a new position in shares of Upstart in the 4th quarter worth approximately $493,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Upstart by 32.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,730 shares of the company’s stock worth $8,973,000 after acquiring an additional 35,315 shares during the last quarter. Virtus Fund Advisers LLC acquired a new stake in Upstart during the 4th quarter valued at $32,000. Finally, Virtus Investment Advisers Inc. bought a new position in Upstart in the 4th quarter valued at $332,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.