Upstart Holdings, Inc. (NASDAQ:UPST – Get Free Report) was up 5.2% during mid-day trading on Tuesday . The stock traded as high as $27.60 and last traded at $27.48. Approximately 3,389,039 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 7,647,174 shares. The stock had previously closed at $26.11.
Analyst Ratings Changes
Several research firms recently issued reports on UPST. Mizuho lifted their price objective on Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a report on Thursday, January 18th. JPMorgan Chase & Co. cut their target price on Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $28.00 target price on shares of Upstart in a report on Tuesday, March 19th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Upstart currently has a consensus rating of “Hold” and a consensus target price of $26.44.
Upstart Trading Up 1.8 %
The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -9.00 and a beta of 1.95. The company’s 50 day moving average is $28.73 and its 200 day moving average is $30.03.
Upstart (NASDAQ:UPST – Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.05. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. The business had revenue of $140.31 million during the quarter, compared to the consensus estimate of $135.28 million. Analysts anticipate that Upstart Holdings, Inc. will post -2.19 EPS for the current fiscal year.
Insider Transactions at Upstart
In related news, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $34.14, for a total value of $34,140.00. Following the sale, the chief financial officer now directly owns 359,090 shares in the company, valued at $12,259,332.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Scott Darling sold 1,298 shares of Upstart stock in a transaction on Monday, January 29th. The stock was sold at an average price of $35.38, for a total transaction of $45,923.24. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sanjay Datta sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $34.14, for a total transaction of $34,140.00. Following the transaction, the chief financial officer now directly owns 359,090 shares of the company’s stock, valued at approximately $12,259,332.60. The disclosure for this sale can be found here. Insiders have sold a total of 11,777 shares of company stock worth $351,209 over the last ninety days. 18.45% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Upstart
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Upstart by 2.3% during 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 during the last quarter. ICA Group Wealth Management LLC bought a new position in Upstart during the 4th quarter valued at $61,000. American International Group Inc. increased its position in shares of Upstart by 1.2% in the 4th quarter. American International Group Inc. now owns 36,406 shares of the company’s stock worth $1,488,000 after purchasing an additional 418 shares during the last quarter. Sierra Summit Advisors LLC bought a new position in shares of Upstart during the fourth quarter worth about $272,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Upstart by 5.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,580 shares of the company’s stock worth $1,618,000 after purchasing an additional 1,880 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other 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.