Scott Darling Sells 7,190 Shares of Upstart Holdings, Inc. (NASDAQ:UPST) Stock

Upstart Holdings, Inc. (NASDAQ:UPST) Chief Legal Officer Scott Darling sold 7,190 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $39.15, for a total value of $281,464.77. Following the completion of the transaction, the insider now directly owns 176,870 shares in the company, valued at approximately $6,923,876.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Scott Darling also recently made the following trade(s):

• On Monday, August 19th, Scott Darling sold 24,000 shares of Upstart stock. The stock was sold at an average price of $40.00, for a total transaction 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 transaction of $405,000.00.

Upstart Price Performance

Shares of NASDAQ UPST opened at $34.40 on Friday. Upstart Holdings, Inc. has a 1 year low of $19.84 and a 1 year high of $49.62. The stock has a market capitalization of $3.08 billion, a P/E ratio of -16.70 and a beta of 2.03. The company’s 50-day moving average is $31.76 and its 200 day moving average is $27.06.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. The firm had revenue of $127.63 million for the quarter, compared to the consensus estimate 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 for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.34) EPS. Research analysts anticipate that Upstart Holdings, Inc. will post -2.39 earnings per share for the current year.

Hedge Funds Weigh In On Upstart

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Upstart by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock worth $191,698,000 after buying an additional 115,057 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Upstart by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 573,176 shares of the company’s stock worth $23,420,000 after acquiring an additional 17,463 shares in the last quarter. Norges Bank purchased a new stake in Upstart in the fourth quarter worth about $19,017,000. Liontrust Investment Partners LLP increased its stake in shares of Upstart by 26.1% during 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 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 last quarter. Institutional investors own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Wedbush reiterated an “underperform” rating and set a $10.00 price target on shares of Upstart in a report on Wednesday, August 7th. Piper Sandler raised their price target on shares of Upstart from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Mizuho raised shares of Upstart from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $17.00 to $31.00 in a research note on Wednesday, July 31st. Finally, Citigroup upgraded shares of Upstart from a “sell” rating to a “neutral” rating and increased their target price for the stock from $15.00 to $33.00 in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.75.

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.