SG Americas Securities LLC Purchases Shares of 35,604 Upstart Holdings, Inc. (NASDAQ:UPST)

SG Americas Securities LLC purchased a new stake in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 35,604 shares of the company's stock, valued at approximately $1,639,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Rakuten Securities Inc. acquired a new stake in shares of Upstart in the fourth quarter valued at approximately $31,000. Virtus Fund Advisers LLC acquired a new stake in shares of Upstart in the 4th quarter valued at $32,000. Farther Finance Advisors LLC increased its stake in shares of Upstart by 24.2% in the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock valued at $54,000 after buying an additional 172 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Upstart during the fourth quarter worth $62,000. Finally, Blue Trust Inc. lifted its stake in shares of Upstart by 49.1% during the fourth quarter. Blue Trust Inc. now owns 1,475 shares of the company's stock valued at $91,000 after acquiring an additional 486 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on UPST shares. The Goldman Sachs Group lifted their price objective on Upstart from $15.00 to $16.50 and gave the stock a "sell" rating in a research report on Thursday, May 8th. Morgan Stanley dropped their target price on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Barclays raised their price target on Upstart from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Bank of America upgraded Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price objective for the company in a report on Tuesday, April 29th. Finally, Stephens began coverage on Upstart in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Upstart currently has a consensus rating of "Hold" and a consensus target price of $66.96.

Insider Buying and Selling at Upstart

In related news, CFO Sanjay Datta sold 13,512 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $46.97, for a total transaction of $634,658.64. Following the completion of the transaction, the chief financial officer now directly owns 311,356 shares in the company, valued at approximately $14,624,391.32. This trade represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $60.11, for a total value of $2,504,603.37. Following the transaction, the chief executive officer now directly owns 52,614 shares of the company's stock, valued at approximately $3,162,627.54. This trade represents a 44.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,783 shares of company stock valued at $3,257,814 in the last 90 days. 16.67% of the stock is currently owned by company insiders.

Upstart Trading Down 3.0%

Shares of NASDAQ:UPST traded down $1.66 during trading on Tuesday, hitting $53.40. 3,856,288 shares of the company's stock traded hands, compared to its average volume of 6,730,171. The company has a 50-day moving average price of $47.60 and a 200-day moving average price of $57.72. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $96.43. The company has a market cap of $5.08 billion, a price-to-earnings ratio of -36.58 and a beta of 2.29.

Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.11. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The firm had revenue of $213.37 million for the quarter, compared to analyst estimates of $201.08 million. During the same quarter in the previous year, the firm posted ($0.31) earnings per share. The business's revenue was up 67.0% on a year-over-year basis. On average, analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Upstart Company Profile

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.