SG Americas Securities LLC Sells 144,080 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

SG Americas Securities LLC reduced its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 97.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,134 shares of the company’s stock after selling 144,080 shares during the quarter. SG Americas Securities LLC’s holdings in Upstart were worth $165,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Upstart by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock valued at $286,589,000 after acquiring an additional 157,719 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Upstart by 80.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after purchasing an additional 778 shares during the period. Principal Financial Group Inc. grew its holdings in Upstart by 18.1% in the 1st quarter. Principal Financial Group Inc. now owns 9,983 shares of the company’s stock valued at $268,000 after buying an additional 1,533 shares during the last quarter. Private Advisor Group LLC increased its position in Upstart by 13.6% in the 1st quarter. Private Advisor Group LLC now owns 17,936 shares of the company’s stock worth $482,000 after buying an additional 2,149 shares during the period. Finally, Manchester Capital Management LLC lifted its holdings in shares of Upstart by 5.5% during the first quarter. Manchester Capital Management LLC now owns 37,325 shares of the company’s stock worth $1,004,000 after buying an additional 1,932 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Upstart

In related news, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $53.81, for a total transaction of $80,715.00. Following the completion of the transaction, the chief financial officer now directly owns 335,593 shares of the company’s stock, valued at $18,058,259.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Natalia Mirgorodskaya sold 1,264 shares of Upstart stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total value of $48,487.04. Following the completion of the transaction, the insider now directly owns 24,557 shares of the company’s stock, valued at $942,006.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $53.81, for a total transaction of $80,715.00. Following the sale, the chief financial officer now directly owns 335,593 shares in the company, valued at approximately $18,058,259.33. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 313,459 shares of company stock valued at $13,693,915. 18.06% of the stock is owned by insiders.

Upstart Trading Up 2.7 %

NASDAQ UPST opened at $51.09 on Friday. Upstart Holdings, Inc. has a 1-year low of $19.84 and a 1-year high of $57.40. The stock’s 50 day moving average is $41.56 and its two-hundred day moving average is $30.96. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of -21.83 and a beta of 2.01.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.22. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The business had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. During the same quarter in the previous year, the firm earned ($0.34) EPS. Upstart’s quarterly revenue was down 6.0% on a year-over-year basis. On average, analysts predict that Upstart Holdings, Inc. will post -2.39 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on UPST shares. Wedbush upgraded shares of Upstart from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $45.00 in a research note on Monday, October 14th. Citigroup upgraded shares of Upstart from a “sell” rating to a “neutral” rating and raised their price target for the stock from $15.00 to $33.00 in a research report on Wednesday, August 7th. Barclays increased their target price on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Mizuho boosted their price target on Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.50.

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.