Upstart (NASDAQ:UPST) Stock Price Up 7.3%

Upstart Holdings, Inc. (NASDAQ:UPST)’s stock price traded up 7.3% during trading on Monday . The stock traded as high as $26.07 and last traded at $25.91. 2,169,013 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 6,408,358 shares. The stock had previously closed at $24.15.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Mizuho increased their target price on shares of Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a report on Thursday, January 18th. Bank of America started coverage on shares of Upstart in a report on Thursday, April 4th. They set an “underperform” rating and a $22.00 price target on the stock. Piper Sandler reissued a “neutral” rating and issued a $28.00 price objective on shares of Upstart in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Wednesday, February 14th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.00.

Upstart Price Performance

The stock has a 50-day moving average price of $24.76 and a two-hundred day moving average price of $29.21. The stock has a market cap of $2.26 billion, a PE ratio of -8.88 and a beta of 2.01.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $140.31 million during the quarter, compared to analyst estimates of $135.28 million. Equities research analysts expect that Upstart Holdings, Inc. will post -2.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Paul Gu sold 60,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.31, for a total value of $1,578,600.00. Following the completion of the transaction, the chief technology officer now directly owns 893,596 shares of the company’s stock, valued at approximately $23,510,510.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Upstart news, CTO Paul Gu sold 60,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.31, for a total value of $1,578,600.00. Following the completion of the transaction, the chief technology officer now owns 893,596 shares of the company’s stock, valued at $23,510,510.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Natalia Mirgorodskaya sold 1,919 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $24.30, for a total transaction of $46,631.70. Following the sale, the insider now directly owns 28,246 shares in the company, valued at $686,377.80. The disclosure for this sale can be found here. Insiders sold a total of 66,419 shares of company stock worth $1,750,272 over the last 90 days. Company insiders own 18.06% of the company’s stock.

Institutional Investors Weigh In On Upstart

A number of large investors have recently bought and sold shares of UPST. Manchester Capital Management LLC boosted its stake in shares of Upstart by 5.5% in the first quarter. Manchester Capital Management LLC now owns 37,325 shares of the company’s stock worth $1,004,000 after buying an additional 1,932 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Upstart by 13.6% during the 1st quarter. Private Advisor Group LLC now owns 17,936 shares of the company’s stock worth $482,000 after purchasing an additional 2,149 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Upstart by 18.1% during the 1st quarter. Principal Financial Group Inc. now owns 9,983 shares of the company’s stock valued at $268,000 after purchasing an additional 1,533 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Upstart by 80.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after purchasing an additional 778 shares during the period. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Upstart by 82.9% during the first quarter. Newbridge Financial Services Group Inc. now owns 8,689 shares of the company’s stock worth $234,000 after buying an additional 3,938 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.