Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) Insider Sells $62,741.88 in Stock

Upstart Holdings, Inc. (NASDAQ:UPST) insider Natalia Mirgorodskaya sold 794 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Upstart Trading Up 2.8 %

Shares of NASDAQ UPST opened at $68.78 on Thursday. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of -47.11 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’s 50-day moving average is $67.68 and its 200 day moving average is $58.08.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Upstart

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rakuten Securities Inc. bought a new position in Upstart during the 4th quarter worth approximately $31,000. Virtus Fund Advisers LLC bought a new position in Upstart during the 4th quarter worth approximately $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Upstart during the 3rd quarter worth approximately $35,000. BNP Paribas bought a new position in Upstart during the 3rd quarter worth approximately $37,000. Finally, Hollencrest Capital Management bought a new position in Upstart during the 3rd quarter worth approximately $40,000. 63.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays increased their price objective on Upstart from $80.00 to $93.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and raised their price target for the company from $57.00 to $79.00 in a report on Wednesday, February 12th. Needham & Company LLC raised their price target on Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 price target (up previously from $85.00) on shares of Upstart in a report on Wednesday, February 12th. Finally, Morgan Stanley raised Upstart from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $12.00 to $70.00 in a report on Friday, February 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Upstart has a consensus rating of “Hold” and an average 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.