Magnetar Financial LLC Sells 9,268 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Magnetar Financial LLC cut its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 44.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,602 shares of the company’s stock after selling 9,268 shares during the quarter. Magnetar Financial LLC’s holdings in Upstart were worth $714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rakuten Securities Inc. acquired a new position in Upstart in the 4th quarter valued at $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Upstart in the 3rd quarter valued at $35,000. BNP Paribas acquired a new position in Upstart in the 3rd quarter valued at $37,000. Prospera Private Wealth LLC acquired a new position in Upstart in the 3rd quarter valued at $47,000. Finally, Farther Finance Advisors LLC grew its stake in 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 last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Upstart

In related news, CFO Sanjay Datta sold 16,070 shares of Upstart stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the completion of the transaction, the chief financial officer now directly owns 295,537 shares of the company’s stock, valued at $23,353,333.74. This trade represents a 5.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the completion of the transaction, the chief executive officer now directly owns 57,138 shares of the company’s stock, valued at approximately $3,576,838.80. This represents a 42.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,062 shares of company stock valued at $5,247,182 in the last ninety days. Insiders own 18.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Morgan Stanley upgraded shares of Upstart from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $12.00 to $70.00 in a research report on Friday, February 14th. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $57.00 to $79.00 in a research report on Wednesday, February 12th. Citigroup raised their price target on shares of Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Barclays raised their price target on shares of Upstart from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Upstart has an average rating of “Hold” and an average price target of $73.38.

Upstart Stock Performance

Shares of Upstart stock opened at $51.96 on Friday. The firm’s 50-day simple moving average is $64.09 and its 200-day simple moving average is $59.57. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43. The firm has a market cap of $4.87 billion, a P/E ratio of -35.59 and a beta of 2.25.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. On average, equities analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Upstart 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.