Upstart Holdings, Inc. (NASDAQ:UPST) Insider Scott Darling Sells 84,000 Shares

Upstart Holdings, Inc. (NASDAQ:UPST) insider Scott Darling sold 84,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $50.02, for a total value of $4,201,680.00. Following the transaction, the insider now directly owns 152,043 shares in the company, valued at approximately $7,605,190.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Scott Darling also recently made the following trade(s):

• On Friday, October 11th, Scott Darling sold 20,000 shares of Upstart stock. The stock was sold at an average price of $45.00, for a total value of $900,000.00.
• On Friday, October 4th, Scott Darling sold 1,300 shares of Upstart stock. The stock was sold at an average price of $40.01, for a total value of $52,013.00.
• On Tuesday, October 1st, Scott Darling sold 6,200 shares of Upstart stock. The stock was sold at an average price of $39.67, for a total value of $245,954.00.
• On Friday, September 6th, Scott Darling sold 7,190 shares of Upstart stock. The stock was sold at an average price of $39.15, for a total transaction of $281,464.77.
• On Monday, August 19th, Scott Darling sold 24,000 shares of Upstart stock. The stock was sold at an average price of $40.00, for a total transaction of $960,000.00.
• On Thursday, August 29th, Scott Darling sold 9,000 shares of Upstart stock. The stock was sold at an average price of $45.00, for a total transaction of $405,000.00.

Upstart Stock Down 2.1 %

Shares of NASDAQ:UPST opened at $52.91 on Wednesday. Upstart Holdings, Inc. has a 52 week low of $19.84 and a 52 week high of $57.40. The company has a market cap of $4.65 billion, a P/E ratio of -25.68 and a beta of 2.01. The company has a 50-day moving average price of $39.52 and a 200 day moving average price of $29.87.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.22. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The company had revenue of $127.63 million during the quarter, compared to analysts’ expectations of $124.55 million. During the same period last year, the company posted ($0.34) earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts expect that Upstart Holdings, Inc. will post -2.39 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Anfield Capital Management LLC purchased a new position in Upstart in the second quarter valued at about $33,000. Benjamin F. Edwards & Company Inc. increased its holdings in Upstart by 80.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after buying an additional 778 shares in the last quarter. GAMMA Investing LLC increased its holdings in Upstart by 259.0% in the second quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock valued at $52,000 after buying an additional 1,590 shares in the last quarter. Comerica Bank increased its stake in shares of Upstart by 144.0% during the 1st quarter. Comerica Bank now owns 2,313 shares of the company’s stock worth $62,000 after purchasing an additional 1,365 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Upstart by 18.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock worth $63,000 after purchasing an additional 409 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on UPST. JPMorgan Chase & Co. increased their target price on shares of Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Barclays increased their target price on shares of Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. Wedbush upgraded shares of Upstart from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $10.00 to $45.00 in a research report on Monday. Finally, Piper Sandler raised their price objective on shares of Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $31.50.

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.