Upstart (NASDAQ:UPST) Trading Down 5.2%

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) dropped 5.2% on Thursday . The company traded as low as $26.70 and last traded at $26.71. Approximately 3,789,684 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 7,588,438 shares. The stock had previously closed at $28.17.

Wall Street Analysts Forecast Growth

UPST has been the subject of a number of research analyst reports. Mizuho lifted their target price on Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a report on Thursday, January 18th. Piper Sandler restated a “neutral” rating and set a $28.00 price objective on shares of Upstart in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. decreased 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. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Upstart presently has a consensus rating of “Hold” and an average target price of $26.44.

Upstart Stock Performance

The company has a market capitalization of $2.32 billion, a P/E ratio of -9.71 and a beta of 1.95. The business has a 50 day moving average of $28.60 and a 200-day moving average of $29.99.

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 return on equity of 35.47% and a negative net margin of 46.76%. The company had revenue of $140.31 million for the quarter, compared to analyst estimates of $135.28 million. As a group, equities analysts forecast that Upstart Holdings, Inc. will post -2.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Upstart news, 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 value of $46,631.70. Following the transaction, the insider now directly 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 is available through this hyperlink. In related news, insider Scott Darling sold 1,298 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $35.38, for a total transaction of $45,923.24. Following the completion of the sale, the insider now directly owns 169,527 shares in the company, valued at approximately $5,997,865.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,919 shares of the stock in a transaction dated 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 of the company’s stock, valued at $686,377.80. The disclosure for this sale can be found here. Insiders have sold 11,777 shares of company stock worth $351,209 in the last ninety days. 18.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Upstart

Several institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Upstart in the 4th quarter valued at approximately $11,225,000. Vanguard Group Inc. lifted its stake in shares of Upstart by 16.9% in the 1st quarter. Vanguard Group Inc. now owns 5,822,210 shares of the company’s stock valued at $635,145,000 after purchasing an additional 840,668 shares during the period. Morgan Stanley lifted its stake in shares of Upstart by 65.6% in the 3rd quarter. Morgan Stanley now owns 1,914,933 shares of the company’s stock valued at $54,652,000 after purchasing an additional 758,669 shares during the period. Northern Trust Corp raised its stake in Upstart by 141.6% during the second quarter. Northern Trust Corp now owns 710,654 shares of the company’s stock valued at $25,449,000 after buying an additional 416,513 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Upstart by 39.6% during the second quarter. Geode Capital Management LLC now owns 1,436,577 shares of the company’s stock valued at $51,444,000 after buying an additional 407,395 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.