Upstart (NASDAQ:UPST) Shares Up 7.3%

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

Wall Street Analysts Forecast Growth

Several research firms have commented on UPST. JPMorgan Chase & Co. reduced their price objective on Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. Mizuho increased their price target on Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a report on Thursday, January 18th. JMP Securities reiterated a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Piper Sandler restated a “neutral” rating and issued a $28.00 price objective on shares of Upstart in a research report on Tuesday, March 19th. Finally, Bank of America began coverage on Upstart in a research report on Thursday, April 4th. They set an “underperform” rating and a $22.00 target price on the stock. Five equities 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, the stock currently has an average rating of “Hold” and an average target price of $26.00.

Upstart Trading Up 6.6 %

The firm has a 50 day moving average of $24.76 and a two-hundred day moving average of $29.21. The stock has a market capitalization of $2.26 billion, a PE ratio of -8.88 and a beta of 2.01.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.05. The business had revenue of $140.31 million during the quarter, compared to analysts’ expectations of $135.28 million. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. Equities research analysts forecast that Upstart Holdings, Inc. will post -2.19 EPS for the current year.

Insider Buying and Selling at Upstart

In other Upstart 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 value of $33,840.00. Following the sale, the chief financial officer now owns 354,090 shares of the company’s stock, valued at $11,982,405.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Paul Gu sold 60,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.31, for a total value of $1,578,600.00. Following the sale, the chief technology officer now directly owns 893,596 shares in the company, valued at $23,510,510.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $33.84, for a total value of $33,840.00. Following the sale, the chief financial officer now owns 354,090 shares of the company’s stock, valued at approximately $11,982,405.60. The disclosure for this sale can be found here. In the last three months, insiders sold 66,419 shares of company stock worth $1,750,272. 18.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Upstart in the fourth quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. raised its holdings in Upstart by 80.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after acquiring an additional 778 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Upstart during the 3rd quarter worth $51,000. Strs Ohio acquired a new stake in shares of Upstart during the fourth quarter worth $57,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Upstart in the fourth quarter valued at $61,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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.