Upstart’s (UPST) Market Perform Rating Reiterated at JMP Securities

JMP Securities reiterated their market perform rating on shares of Upstart (NASDAQ:UPST) in a report released on Wednesday morning, Benzinga reports.

UPST has been the subject of a number of other research reports. Mizuho increased their target price on shares of Upstart from $19.00 to $23.00 and gave the company an underperform rating in a research report on Thursday, January 18th. Bank of America began coverage on shares of Upstart in a research report on Thursday, April 4th. They set an underperform rating and a $22.00 target price for the company. Piper Sandler reissued a neutral rating and set a $28.00 target price on shares of Upstart in a research report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Upstart from $26.00 to $24.00 and set an underweight rating for the company in a research 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 issued a buy rating to the company. According to MarketBeat.com, Upstart currently has an average rating of Hold and a consensus price target of $26.00.

Upstart Trading Down 0.4 %

NASDAQ UPST opened at $22.44 on Wednesday. The firm’s 50 day moving average price is $26.10 and its 200-day moving average price is $29.62. Upstart has a 52-week low of $11.93 and a 52-week high of $72.58.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.05. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. The firm had revenue of $140.31 million for the quarter, compared to the consensus estimate of $135.28 million. As a group, research analysts expect that Upstart will post -2.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

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. In other news, insider Scott Darling sold 1,298 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $35.38, for a total value of $45,923.24. Following the sale, the insider now owns 169,527 shares in the company, valued at $5,997,865.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Paul Gu sold 60,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.31, for a total transaction of $1,578,600.00. Following the completion of the sale, the chief technology officer now owns 893,596 shares in the company, valued at approximately $23,510,510.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,777 shares of company stock valued at $1,864,629. Insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Upstart by 1.3% in the third quarter. Vanguard Group Inc. now owns 6,856,199 shares of the company’s stock worth $195,676,000 after acquiring an additional 87,832 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Upstart by 37.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,250 shares of the company’s stock worth $2,262,000 after acquiring an additional 21,668 shares during the period. Northern Trust Corp increased its stake in shares of Upstart by 1.1% in the third quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock worth $20,513,000 after acquiring an additional 8,091 shares during the period. Stratos Wealth Partners LTD. increased its stake in shares of Upstart by 5.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 11,805 shares of the company’s stock worth $482,000 after acquiring an additional 619 shares during the period. Finally, Trexquant Investment LP acquired a new stake in Upstart during the third quarter valued at $1,529,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Upstart

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.