Upstart (NASDAQ:UPST) Trading Down 5.2%

Upstart Holdings, Inc. (NASDAQ:UPST)’s stock price fell 5.2% during trading on Thursday . The stock traded as low as $26.70 and last traded at $26.71. 3,789,684 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 7,588,438 shares. The stock had previously closed at $28.17.

Wall Street Analyst Weigh In

Several research firms have commented on UPST. Piper Sandler reiterated a “neutral” rating and issued a $28.00 price objective on shares of Upstart in a report on Tuesday, March 19th. JPMorgan Chase & Co. reduced their target price on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Finally, Mizuho boosted their target price on shares of Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research report on Thursday, January 18th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.44.

Upstart Price Performance

The stock has a market cap of $2.32 billion, a P/E ratio of -9.71 and a beta of 1.95. The business’s fifty day moving average price is $28.60 and its 200 day moving average price is $29.99.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 13th. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.05. The firm had revenue of $140.31 million during the quarter, compared to analysts’ expectations of $135.28 million. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. On average, analysts predict that Upstart Holdings, Inc. will post -2.19 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Scott Darling sold 1,298 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $35.38, for a total value of $45,923.24. Following the completion of the transaction, the insider now owns 169,527 shares of the company’s stock, valued at $5,997,865.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Upstart news, insider Scott Darling sold 1,298 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $35.38, for a total transaction of $45,923.24. Following the completion of the sale, the insider now owns 169,527 shares of the company’s stock, valued at approximately $5,997,865.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalia Mirgorodskaya sold 1,919 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $24.30, for a total value of $46,631.70. Following the transaction, the insider now owns 28,246 shares in the company, valued at $686,377.80. The disclosure for this sale can be found here. Insiders sold 11,777 shares of company stock valued at $351,209 over the last quarter. 18.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Upstart

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Upstart by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock worth $286,589,000 after purchasing an additional 157,719 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Upstart by 11.5% in the 1st quarter. BlackRock Inc. now owns 2,355,881 shares of the company’s stock worth $257,003,000 after purchasing an additional 242,348 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Upstart by 65.6% in the 3rd quarter. Morgan Stanley now owns 1,914,933 shares of the company’s stock worth $54,652,000 after purchasing an additional 758,669 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Upstart by 39.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,436,577 shares of the company’s stock worth $51,444,000 after purchasing an additional 407,395 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Upstart by 36.6% in the 2nd quarter. State Street Corp now owns 1,319,132 shares of the company’s stock worth $41,711,000 after purchasing an additional 353,154 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

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.