Upstart (NASDAQ:UPST) Trading 7.3% Higher

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

Wall Street Analyst Weigh In

A number of brokerages have commented on UPST. Piper Sandler reissued a “neutral” rating and issued a $28.00 price objective on shares of Upstart in a research report on Tuesday, March 19th. JMP Securities reiterated a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research report on Wednesday. Bank of America initiated coverage on shares of Upstart in a research note on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective on the stock. Finally, Mizuho increased their price objective on shares of Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a report on Thursday, January 18th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Upstart presently has a consensus rating of “Hold” and an average price target of $26.00.

Upstart Price Performance

The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -7.97 and a beta of 2.01. The firm’s fifty day moving average is $24.74 and its 200 day moving average is $29.20.

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

Insider Buying and Selling at Upstart

In other news, 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 value of $46,631.70. Following the sale, the insider now owns 28,246 shares in the company, valued at approximately $686,377.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Sanjay Datta sold 1,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $33.84, for a total transaction of $33,840.00. Following the transaction, the chief financial officer now owns 354,090 shares in the company, valued at approximately $11,982,405.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Natalia Mirgorodskaya sold 1,919 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $24.30, for a total transaction of $46,631.70. Following the transaction, the insider now owns 28,246 shares in the company, valued at approximately $686,377.80. The disclosure for this sale can be found here. Insiders have sold 66,419 shares of company stock valued at $1,750,272 in the last 90 days. 18.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in UPST. Norges Bank acquired a new position in Upstart during the 4th quarter valued at about $19,017,000. Pathstone Family Office LLC bought a new stake in shares of Upstart in the 3rd quarter valued at about $11,332,000. International Assets Investment Management LLC increased its stake in shares of Upstart by 3,532.7% in the 4th quarter. International Assets Investment Management LLC now owns 329,740 shares of the company’s stock valued at $13,473,000 after acquiring an additional 320,663 shares during the last quarter. Fred Alger Management LLC increased its stake in shares of Upstart by 121.9% in the 3rd quarter. Fred Alger Management LLC now owns 508,050 shares of the company’s stock valued at $14,500,000 after acquiring an additional 279,110 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Upstart by 2.3% in the 4th 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. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.