Upstart (NASDAQ:UPST) Reaches New 52-Week Low – Time to Sell?

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) reached a new 52-week low during trading on Thursday. The company traded as low as $19.61 and last traded at $19.50, with a volume of 866,965 shares traded. The stock had previously closed at $20.56.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Upstart from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Loop Capital initiated coverage on shares of Upstart in a report on Tuesday, September 8th. They issued a “hold” rating and a $34.00 price target for the company. Weiss Ratings raised shares of Upstart from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. BTIG Research lowered their price objective on shares of Upstart from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, November 3rd. Finally, B. Riley Financial reissued a “buy” rating and set a $42.00 price objective (down from $54.00) on shares of Upstart in a report on Wednesday, November 4th. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.40.

Upstart Price Performance

The firm’s fifty day simple moving average is $24.06 and its 200 day simple moving average is $29.03. The company has a market capitalization of $1.94 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 1.98 and a beta of 2.48.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13. The business had revenue of $370.52 million during the quarter, compared to analyst estimates of $362.68 million. Upstart had a return on equity of 9.67% and a net margin of 4.86%. The company’s revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. On average, equities research analysts anticipate that Upstart Holdings, Inc. will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Paul Gu purchased 50,000 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was bought at an average cost of $25.55 per share, with a total value of $1,277,500.00. Following the completion of the acquisition, the chief executive officer owned 130,000 shares of the company’s stock, valued at $3,321,500. The trade was a 62.50% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrea Blankmeyer sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $29.33, for a total value of $87,990.00. Following the completion of the transaction, the chief financial officer directly owned 152,208 shares of the company’s stock, valued at $4,464,260.64. The trade was a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 148,652 shares of company stock valued at $4,133,720 in the last three months. 17.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Upstart

Hedge funds and other institutional investors have recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its holdings in shares of Upstart by 33.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,790 shares of the company’s stock valued at $41,000 after purchasing an additional 446 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Upstart by 26.7% during the second quarter. Versant Capital Management Inc now owns 2,905 shares of the company’s stock worth $103,000 after buying an additional 612 shares in the last quarter. State of Wyoming boosted its holdings in Upstart by 10.8% during the first quarter. State of Wyoming now owns 6,901 shares of the company’s stock worth $177,000 after buying an additional 674 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Upstart by 76.7% during the third quarter. Parallel Advisors LLC now owns 1,656 shares of the company’s stock worth $38,000 after buying an additional 719 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in Upstart by 25.7% during the third quarter. Farther Finance Advisors LLC now owns 4,307 shares of the company’s stock valued at $99,000 after buying an additional 881 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Upstart Company Profile

Upstart Holdings, Inc. operates an artificial intelligence–based lending marketplace that connects consumers seeking loans with banks and credit unions. Its platform uses machine-learning models and borrower data to help lending partners assess credit risk and make lending decisions. The company’s offerings include personal loans and technology for auto lending, including auto retail and refinancing. Upstart was founded in 2012 by Dave Girouard, Paul Gu and Anna Counselman. Girouard serves as the company’s chief executive officer.