Upstart (NASDAQ:UPST) Stock Price Up 7.6%

Shares of Upstart Holdings, Inc. (NASDAQ:UPSTGet Rating) were up 7.6% on Friday . The stock traded as high as $16.79 and last traded at $16.75. Approximately 127,438 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 5,449,319 shares. The stock had previously closed at $15.57.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays cut their target price on shares of Upstart to $17.00 in a research report on Tuesday, November 15th. Bank of America lowered Upstart from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $34.00 to $15.00 in a report on Thursday, November 10th. Jefferies Financial Group cut their price target on Upstart from $25.00 to $20.00 in a report on Wednesday, November 9th. Mizuho upped their price objective on Upstart to $14.00 and gave the stock an “underperform” rating in a research note on Monday, December 12th. Finally, Piper Sandler raised their price objective on Upstart from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.21.

Upstart Stock Performance

The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -172.90 and a beta of 1.32. The business’s 50 day moving average is $16.31 and its 200 day moving average is $22.14.

Upstart (NASDAQ:UPSTGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.23). Upstart had a return on equity of 0.70% and a net margin of 0.55%. The company had revenue of $157.23 million for the quarter, compared to analyst estimates of $171.67 million. Sell-side analysts predict that Upstart Holdings, Inc. will post -1.63 EPS for the current year.

Insider Activity

In other Upstart news, CFO Sanjay Datta sold 2,300 shares of Upstart stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $22.01, for a total transaction of $50,623.00. Following the completion of the sale, the chief financial officer now directly owns 53,508 shares in the company, valued at approximately $1,177,711.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Kerry Whorton Cooper sold 2,000 shares of Upstart stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $20.92, for a total transaction of $41,840.00. Following the completion of the transaction, the director now directly owns 768 shares in the company, valued at $16,066.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sanjay Datta sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $22.01, for a total value of $50,623.00. Following the completion of the sale, the chief financial officer now owns 53,508 shares in the company, valued at approximately $1,177,711.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,293 shares of company stock valued at $577,988. Company insiders own 18.87% of the company’s stock.

Hedge Funds Weigh In On Upstart

Several large investors have recently made changes to their positions in UPST. Quent Capital LLC boosted its position in Upstart by 34.3% during the fourth quarter. Quent Capital LLC now owns 8,757 shares of the company’s stock worth $116,000 after purchasing an additional 2,237 shares in the last quarter. Perigon Wealth Management LLC grew its stake in Upstart by 83.8% in the 3rd quarter. Perigon Wealth Management LLC now owns 24,560 shares of the company’s stock valued at $511,000 after acquiring an additional 11,200 shares during the period. Bank of New York Mellon Corp increased its holdings in Upstart by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 240,765 shares of the company’s stock worth $5,005,000 after acquiring an additional 798 shares in the last quarter. Liberty One Investment Management LLC acquired a new position in Upstart during the third quarter worth $63,000. Finally, Twinbeech Capital LP acquired a new position in Upstart during the third quarter worth $3,019,000. 37.43% of the stock is currently owned by institutional investors and hedge funds.

Upstart Company Profile

(Get Rating)

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank partners. The company was founded in 2012 and is headquartered in San Mateo, California.

Further Reading

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