Upstart (NASDAQ:UPST) Director Sells $75,000.00 in Stock

Upstart Holdings, Inc. (NASDAQ:UPST) Director Kerry Whorton Cooper sold 1,500 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $50.00, for a total transaction of $75,000.00. Following the sale, the director directly owned 23,934 shares of the company’s stock, valued at approximately $1,196,700. This trade represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Upstart Trading Up 1.9%

NASDAQ:UPST traded up $0.86 during mid-day trading on Tuesday, hitting $46.91. The company had a trading volume of 3,491,165 shares, compared to its average volume of 6,448,891. The business has a fifty day simple moving average of $45.29 and a 200-day simple moving average of $58.92. Upstart Holdings, Inc. has a 1 year low of $31.40 and a 1 year high of $96.43. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 213.24 and a beta of 2.27.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, November 4th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. The company had revenue of $258.54 million during the quarter, compared to the consensus estimate of $288.94 million. Upstart had a return on equity of 3.68% and a net margin of 3.33%.The company’s revenue was up 70.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) earnings per share. As a group, research analysts anticipate that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Upstart

A number of institutional investors have recently modified their holdings of the stock. Clearstead Advisors LLC acquired a new position in Upstart in the third quarter worth about $25,000. Quarry LP raised its stake in Upstart by 749.2% during the third quarter. Quarry LP now owns 501 shares of the company’s stock valued at $25,000 after buying an additional 442 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Upstart during the 2nd quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Upstart by 132.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 771 shares of the company’s stock worth $39,000 after acquiring an additional 439 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its position in shares of Upstart by 9,454.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 1,051 shares of the company’s stock worth $49,000 after acquiring an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analysts Set New Price Targets

UPST has been the topic of several analyst reports. Citigroup dropped their price target on shares of Upstart from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. The Goldman Sachs Group restated a “sell” rating and set a $40.00 target price on shares of Upstart in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Upstart in a research report on Monday. JPMorgan Chase & Co. reduced their price target on Upstart from $88.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Needham & Company LLC lowered their price objective on Upstart from $82.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.50.

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.