Upstart Holdings, Inc. (NASDAQ:UPST) CEO Dave Girouard Sells 41,667 Shares

Upstart Holdings, Inc. (NASDAQ:UPST) CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $60.11, for a total transaction of $2,504,603.37. Following the transaction, the chief executive officer now directly owns 52,614 shares in the company, valued at $3,162,627.54. The trade was a 44.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Upstart Trading Down 4.7%

Shares of NASDAQ:UPST opened at $52.02 on Friday. The company has a 50 day moving average of $47.21 and a 200 day moving average of $58.17. The stock has a market cap of $4.95 billion, a P/E ratio of -35.63 and a beta of 2.29. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.11. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The business had revenue of $213.37 million during the quarter, compared to analysts’ expectations of $201.08 million. During the same quarter in the previous year, the company earned ($0.31) EPS. The business’s quarterly revenue was up 67.0% compared to the same quarter last year. On average, equities analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Upstart from $15.00 to $16.50 and gave the company a “sell” rating in a research report on Thursday, May 8th. Barclays lifted their price objective on shares of Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Bank of America raised shares of Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 price objective on the stock in a research report on Tuesday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Upstart in a research report on Monday, May 19th. Finally, Piper Sandler lowered their price objective on shares of Upstart from $105.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $66.96.

Hedge Funds Weigh In On Upstart

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. purchased a new position in Upstart in the 4th quarter worth approximately $31,000. Virtus Fund Advisers LLC purchased a new stake in Upstart during the fourth quarter valued at about $32,000. Farther Finance Advisors LLC boosted its position in Upstart by 24.2% during the fourth 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 period. Mackenzie Financial Corp purchased a new stake in Upstart during the fourth quarter valued at about $62,000. Finally, Blue Trust Inc. boosted its position in Upstart by 49.1% during the fourth quarter. Blue Trust Inc. now owns 1,475 shares of the company’s stock valued at $91,000 after buying an additional 486 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.