Upstart (NASDAQ:UPST) Trading 8.8% Higher

Upstart Holdings, Inc. (NASDAQ:UPST) was up 8.8% on Monday . The company traded as high as $29.59 and last traded at $29.50. Approximately 3,228,828 shares changed hands during trading, a decline of 46% from the average daily volume of 5,947,302 shares. The stock had previously closed at $27.11.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on UPST. Wedbush reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Upstart in a research report on Wednesday, May 8th. BTIG Research initiated coverage on shares of Upstart in a report on Friday, June 7th. They issued a “sell” rating and a $14.00 price target on the stock. Mizuho decreased their price objective on shares of Upstart from $23.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of Upstart in a research report on Wednesday, May 8th. Finally, Bank of America assumed coverage on Upstart in a report on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective for the company. Six investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, Upstart currently has an average rating of “Hold” and an average target price of $21.65.

Upstart Trading Up 10.7 %

The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -14.09 and a beta of 1.97. The business has a 50-day moving average price of $24.27 and a two-hundred day moving average price of $26.92.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.06. The company had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $124.82 million. Upstart had a negative return on equity of 27.89% and a negative net margin of 32.59%. On average, equities research analysts predict that Upstart Holdings, Inc. will post -2.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Paul Gu sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $29.52, for a total transaction of $2,361,600.00. Following the completion of the transaction, the chief technology officer now directly owns 893,596 shares in the company, valued at $26,378,953.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Natalia Mirgorodskaya sold 2,156 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $24.27, for a total value of $52,326.12. Following the completion of the transaction, the insider now directly owns 25,821 shares in the company, valued at $626,675.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Paul Gu sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $29.52, for a total value of $2,361,600.00. Following the sale, the chief technology officer now directly owns 893,596 shares in the company, valued at approximately $26,378,953.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,610 shares of company stock worth $4,062,993. Insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in shares of Upstart by 442.1% in the second quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock valued at $3,496,000 after buying an additional 120,871 shares during the period. Capital Advantage Inc. boosted its position in shares of Upstart by 15.2% during the 2nd quarter. Capital Advantage Inc. now owns 14,246 shares of the company’s stock valued at $331,000 after purchasing an additional 1,881 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Upstart by 259.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after purchasing an additional 1,590 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of Upstart by 66.6% in the 1st quarter. Cetera Advisors LLC now owns 17,258 shares of the company’s stock worth $464,000 after purchasing an additional 6,899 shares in the last quarter. Finally, EMC Capital Management lifted its stake in Upstart by 16.2% during the first quarter. EMC Capital Management now owns 4,300 shares of the company’s stock valued at $109,000 after purchasing an additional 600 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

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.