Upstart (NASDAQ:UPST) Stock Price Down 9.4% – Here’s Why

by · The Markets Daily

Upstart Holdings, Inc. (NASDAQ:UPST – Get Free Report) shares fell 9.4% during mid-day trading on Friday . The company traded as low as $71.30 and last traded at $71.77. 4,549,777 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 6,229,057 shares. The stock had previously closed at $79.21.

Wall Street Analyst Weigh In

A number of research firms have issued reports on UPST. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price (up previously from $85.00) on shares of Upstart in a report on Wednesday, February 12th. JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Barclays lifted their price objective on Upstart from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Morgan Stanley upgraded Upstart from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $12.00 to $70.00 in a research report on Friday, February 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.38.

Get Our Latest Report on UPST

Upstart Price Performance

The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of -49.16 and a beta of 2.25. The firm has a 50-day moving average price of $68.61 and a two-hundred day moving average price of $56.80.

Upstart (NASDAQ:UPST – Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. On average, equities analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Insider Buying and Selling at Upstart

In related news, CTO Paul Gu sold 87,600 shares of Upstart stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $69.39, for a total transaction of $6,078,564.00. Following the completion of the sale, the chief technology officer now directly owns 863,065 shares of the company’s stock, valued at approximately $59,888,080.35. This trade represents a 9.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Natalia Mirgorodskaya sold 1,411 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $77.36, for a total value of $109,154.96. Following the transaction, the insider now owns 18,596 shares in the company, valued at approximately $1,438,586.56. This trade represents a 7.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 193,983 shares of company stock worth $13,598,414 over the last 90 days. Company insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

Hedge funds and other institutional investors have recently modified their holdings of the business. Rakuten Securities Inc. bought a new position in shares of Upstart in the 4th quarter valued at $31,000. Virtus Fund Advisers LLC bought a new position in shares of Upstart in the 4th quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Upstart in the 3rd quarter valued at $35,000. Farther Finance Advisors LLC increased its stake in shares of Upstart by 24.2% in the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after purchasing an additional 172 shares during the last quarter. Finally, BNP Paribas bought a new position in shares of Upstart in the 3rd quarter valued at $37,000. Institutional investors own 63.01% of the company’s stock.

About Upstart

(Get Free Report)

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.

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