Upstart Holdings, Inc. (NASDAQ:UPST) Given Average Rating of “Reduce” by Analysts

Upstart Holdings, Inc. (NASDAQ:UPST) has been assigned a consensus rating of “Reduce” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $26.00.

Several equities analysts recently weighed in on the stock. Mizuho raised their target price on shares of Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research note on Thursday, January 18th. JMP Securities reaffirmed a “market perform” rating on shares of Upstart in a report on Wednesday, April 17th. Bank of America began coverage on Upstart in a report on Thursday, April 4th. They set an “underperform” rating and a $22.00 price target for the company. Piper Sandler reaffirmed a “neutral” rating and set a $28.00 price target on shares of Upstart in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. cut their price target on Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Wednesday, February 14th.

Insider Transactions at Upstart

In other news, CTO Paul Gu sold 60,000 shares of Upstart 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 of the company’s stock, valued at $23,510,510.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Natalia Mirgorodskaya sold 2,500 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $25.48, for a total value of $63,700.00. Following the completion of the transaction, the insider now owns 29,165 shares of the company’s stock, valued at $743,124.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Paul Gu sold 60,000 shares of the business’s stock in a transaction dated 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 directly owns 893,596 shares of the company’s stock, valued at approximately $23,510,510.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,717 shares of company stock valued at $1,828,815. 18.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. grew its position in Upstart by 82.9% in the first quarter. Newbridge Financial Services Group Inc. now owns 8,689 shares of the company’s stock valued at $234,000 after acquiring an additional 3,938 shares during the last quarter. Gemmer Asset Management LLC grew its position in Upstart by 8.2% in the first quarter. Gemmer Asset Management LLC now owns 8,792 shares of the company’s stock valued at $236,000 after acquiring an additional 666 shares during the last quarter. Vanguard Group Inc. grew its position in Upstart by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock valued at $286,589,000 after acquiring an additional 157,719 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Upstart in the fourth quarter valued at about $61,000. Finally, Sierra Summit Advisors LLC bought a new position in Upstart in the fourth quarter valued at about $272,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Upstart Trading Up 0.8 %

NASDAQ:UPST opened at $23.12 on Thursday. Upstart has a 1-year low of $11.93 and a 1-year high of $72.58. The firm has a fifty day simple moving average of $25.09 and a 200 day simple moving average of $29.46. The stock has a market capitalization of $2.03 billion, a PE ratio of -7.97 and a beta of 1.94.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, February 13th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $140.31 million during the quarter, compared to analysts’ expectations of $135.28 million. On average, equities analysts predict that Upstart will post -2.19 earnings per share for the current fiscal year.

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.