Upstart (NASDAQ:UPST) Stock Price Up 8.8%

Upstart Holdings, Inc. (NASDAQ:UPST) shares traded up 8.8% on Monday . The stock traded as high as $29.59 and last traded at $29.50. 3,228,828 shares traded hands during trading, a decline of 46% from the average session volume of 5,947,302 shares. The stock had previously closed at $27.11.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on UPST. JMP Securities reissued a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Bank of America began coverage on Upstart in a research report on Thursday, April 4th. They issued an “underperform” rating and a $22.00 target price on the stock. Redburn Atlantic raised Upstart from a “sell” rating to a “neutral” rating and increased their price target for the company from $22.50 to $25.50 in a research report on Tuesday, June 4th. BTIG Research initiated coverage on Upstart in a research note on Friday, June 7th. They set a “sell” rating and a $14.00 price objective on the stock. Finally, Piper Sandler reissued a “neutral” rating and issued a $28.00 target price on shares of Upstart in a research note on Tuesday, March 19th. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.65.

Upstart Trading Up 10.7 %

The company has a market cap of $2.64 billion, a price-to-earnings ratio of -14.09 and a beta of 1.97. The business’s 50 day moving average price is $24.27 and its 200-day moving average price is $26.92.

Upstart (NASDAQ:UPST) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.06. Upstart had a negative net margin of 32.59% and a negative return on equity of 27.89%. The firm had revenue of $127.79 million during the quarter, compared to the consensus estimate of $124.82 million. Equities research analysts forecast that Upstart Holdings, Inc. will post -2.67 EPS for the current fiscal year.

Insider Activity at Upstart

In other Upstart news, insider Scott Darling sold 3,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $25.44, for a total transaction of $76,320.00. Following the transaction, the insider now owns 196,993 shares in the company, valued at approximately $5,011,501.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Upstart news, insider Scott Darling sold 3,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $25.44, for a total transaction of $76,320.00. Following the transaction, the insider now owns 196,993 shares in the company, valued at approximately $5,011,501.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Paul Gu sold 80,000 shares of Upstart stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $29.52, for a total transaction of $2,361,600.00. Following the completion of the sale, the chief technology officer now owns 893,596 shares of the company’s stock, valued at $26,378,953.92. The disclosure for this sale can be found here. Insiders sold 147,610 shares of company stock worth $4,062,993 in the last ninety days. 18.06% of the stock is owned by company insiders.

Institutional Trading of Upstart

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in Upstart in the fourth quarter valued at about $25,000. Strs Ohio acquired a new position in shares of Upstart in the 4th quarter valued at approximately $57,000. ICA Group Wealth Management LLC bought a new stake in shares of Upstart during the 4th quarter worth approximately $61,000. BOCHK Asset Management Ltd acquired a new stake in shares of Upstart during the 4th quarter worth approximately $61,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake 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 acquiring an additional 778 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

About Upstart

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.