Upstart (NASDAQ:UPST) Shares Up 7.3%

Upstart Holdings, Inc. (NASDAQ:UPST) rose 7.3% on Monday . The stock 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.

Analysts Set New Price Targets

UPST has been the subject of several research reports. Wedbush reissued an “underperform” rating and set a $10.00 price objective on shares of Upstart in a report on Wednesday. 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 report on Wednesday, February 14th. Piper Sandler restated a “neutral” rating and set a $28.00 target price on shares of Upstart in a research report on Tuesday, March 19th. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research report on Wednesday. Finally, JMP Securities reiterated a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.00.

Upstart Price Performance

The business’s fifty day simple moving average is $24.74 and its two-hundred day simple moving average is $29.20. The company has a market cap of $2.03 billion, a PE ratio of -7.97 and a beta of 2.01.

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

Insider Buying and Selling

In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $33.84, for a total transaction of $33,840.00. Following the completion of the transaction, the chief financial officer now owns 354,090 shares in the company, valued at approximately $11,982,405.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Sanjay Datta sold 1,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $33.84, for a total value of $33,840.00. Following the completion of 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 document filed with the SEC, which is available at this link. Also, CTO Paul Gu sold 60,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.31, for a total transaction 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 approximately $23,510,510.76. The disclosure for this sale can be found here. Insiders have sold a total of 66,419 shares of company stock valued at $1,750,272 in the last ninety days. Company insiders own 18.06% of the company’s stock.

Institutional Investors Weigh In On Upstart

Several hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. grew its stake in shares of Upstart by 7.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 26,074 shares of the company’s stock valued at $744,000 after purchasing an additional 1,730 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Upstart by 62.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,935 shares of the company’s stock worth $2,281,000 after buying an additional 30,708 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Upstart by 26.4% in the third quarter. Stratos Wealth Partners LTD. now owns 11,186 shares of the company’s stock valued at $319,000 after acquiring an additional 2,337 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Upstart by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 248,090 shares of the company’s stock worth $7,080,000 after purchasing an additional 763 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Upstart by 14.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,356 shares of the company’s stock valued at $381,000 after purchasing an additional 1,668 shares in the last quarter. 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.