Sanjay Datta Sells 116,000 Shares of Upstart (NASDAQ:UPST) Stock

Upstart Holdings, Inc. (NASDAQ:UPST) insider Sanjay Datta sold 116,000 shares of Upstart stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $27.29, for a total transaction of $3,165,640.00. Following the sale, the insider directly owned 476,578 shares of the company’s stock, valued at $13,005,813.62. This represents a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Sanjay Datta also recently made the following trade(s):

• On Thursday, August 20th, Sanjay Datta sold 8,945 shares of Upstart stock. The stock was sold at an average price of $28.09, for a total transaction of $251,265.05.
• On Wednesday, August 19th, Sanjay Datta sold 10,000 shares of Upstart stock. The shares were sold at an average price of $31.46, for a total value of $314,600.00.
• On Monday, August 17th, Sanjay Datta sold 2,033 shares of Upstart stock. The shares were sold at an average price of $29.36, for a total value of $59,688.88.

Upstart Stock Up 2.0%

Shares of UPST stock opened at $25.59 on Friday. The business has a 50-day moving average price of $29.42 and a two-hundred day moving average price of $29.66. Upstart Holdings, Inc. has a 12-month low of $23.97 and a 12-month high of $71.38. The firm has a market cap of $2.49 billion, a P/E ratio of 52.22, a price-to-earnings-growth ratio of 0.89 and a beta of 2.16.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $364.71 million for the quarter, compared to the consensus estimate of $354.74 million. Upstart had a net margin of 4.84% and a return on equity of 7.13%. Upstart’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. As a group, research analysts expect that Upstart Holdings, Inc. will post 0.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on UPST. BTIG Research restated a “buy” rating and issued a $43.00 price objective on shares of Upstart in a report on Wednesday, August 5th. Needham & Company LLC increased their target price on shares of Upstart from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Loop Capital started coverage on shares of Upstart in a research report on Tuesday. They issued a “hold” rating and a $34.00 target price on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price target on shares of Upstart in a research note on Tuesday, June 9th. Finally, Wall Street Zen raised shares of Upstart from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.75.

Hedge Funds Weigh In On Upstart

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP lifted its position in Upstart by 749.2% during the 3rd quarter. Quarry LP now owns 501 shares of the company’s stock valued at $25,000 after acquiring an additional 442 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Upstart by 132.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 771 shares of the company’s stock worth $39,000 after purchasing an additional 439 shares during the period. Empowered Funds LLC purchased a new position in shares of Upstart during the fourth quarter valued at approximately $40,000. Geneos Wealth Management Inc. grew its stake in shares of Upstart by 274.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,842 shares of the company’s stock worth $47,000 after buying an additional 1,350 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Upstart during the 4th quarter valued at approximately $48,000. 63.01% of the stock is owned by institutional investors.

Upstart Company Profile

Upstart Holdings, Inc is a financial technology company that operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using alternative data and machine-learning models alongside traditional credit information to help lending partners evaluate applicants and originate loans.

The company’s offerings include technology for personal lending, auto lending and home equity lending. Upstart provides tools that support the application, underwriting and loan-origination process, while participating financial institutions generally fund and service the loans.