Insider Selling: Upstart Holdings, Inc. (NASDAQ:UPST) CEO Sells 41,667 Shares of Stock

Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report) CEO Dave Girouard sold 41,667 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $60.11, for a total transaction of $2,504,603.37. Following the completion of the transaction, the chief executive officer now owns 52,614 shares of the company's stock, valued at $3,162,627.54. This represents a 44.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Upstart Price Performance

UPST traded down $2.56 on Friday, reaching $52.02. 5,612,378 shares of the company's stock were exchanged, compared to its average volume of 6,746,402. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43. The stock has a market cap of $4.95 billion, a PE ratio of -35.63 and a beta of 2.29. The stock's fifty day moving average price is $46.89 and its 200-day moving average price is $58.35.

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

Institutional Trading of Upstart

Institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Upstart by 3.1% during the fourth quarter. Jones Financial Companies Lllp now owns 5,511 shares of the company's stock worth $339,000 after buying an additional 167 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Upstart by 24.2% during the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock worth $54,000 after purchasing an additional 172 shares in the last quarter. Bailard Inc. boosted its stake in shares of Upstart by 0.5% in the fourth quarter. Bailard Inc. now owns 38,759 shares of the company's stock valued at $2,386,000 after purchasing an additional 212 shares during the period. GAMMA Investing LLC grew its holdings in shares of Upstart by 23.3% in the first quarter. GAMMA Investing LLC now owns 1,662 shares of the company's stock valued at $77,000 after purchasing an additional 314 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Upstart by 1.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 24,352 shares of the company's stock worth $1,121,000 after buying an additional 322 shares during the period. Hedge funds and other institutional investors own 63.01% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on UPST shares. The Goldman Sachs Group upped their price target on Upstart from $15.00 to $16.50 and gave the stock a "sell" rating in a research report on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $70.00 price target on shares of Upstart in a research report on Monday, May 19th. Citigroup boosted their price objective on Upstart from $87.00 to $108.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Bank of America raised shares of Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price target on the stock in a report on Tuesday, April 29th. Finally, Barclays raised their price objective on Upstart from $42.00 to $47.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $66.96.

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.

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