Upstart (NASDAQ:UPST) Shares Gap Down to $26.43

Upstart Holdings, Inc. (NASDAQ:UPSTGet Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $26.43, but opened at $25.30. Upstart shares last traded at $24.97, with a volume of 822,044 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have commented on UPST shares. Mizuho upped 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. JPMorgan Chase & Co. decreased their price objective on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Wednesday, February 14th. Finally, Piper Sandler restated a “neutral” rating and issued a $28.00 price objective on shares of Upstart in a report on Tuesday, March 19th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.44.

Read Our Latest Stock Report on Upstart

Upstart Stock Performance

The company’s 50-day moving average is $27.87 and its 200 day moving average is $29.86.

Upstart (NASDAQ:UPSTGet Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate 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 company had revenue of $140.31 million for the quarter, compared to the consensus estimate of $135.28 million. As a group, equities analysts predict that Upstart Holdings, Inc. will post -2.19 earnings per share for the current fiscal year.

Insider Activity at Upstart

In related news, CFO Sanjay Datta sold 1,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $31.04, for a total transaction of $31,040.00. Following the sale, the chief financial officer now directly owns 358,090 shares of the company’s stock, valued at approximately $11,115,113.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $31.04, for a total transaction of $31,040.00. Following the sale, the chief financial officer now owns 358,090 shares of the company’s stock, valued at approximately $11,115,113.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,919 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $24.30, for a total transaction of $46,631.70. Following the sale, the insider now directly owns 28,246 shares in the company, valued at approximately $686,377.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,777 shares of company stock valued at $1,929,809. 18.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Upstart

A number of institutional investors and hedge funds have recently made changes to their positions in UPST. Norges Bank bought a new stake in Upstart during the 4th quarter worth approximately $11,225,000. Vanguard Group Inc. boosted its stake in Upstart by 16.9% during the first quarter. Vanguard Group Inc. now owns 5,822,210 shares of the company’s stock worth $635,145,000 after buying an additional 840,668 shares during the period. Morgan Stanley boosted its stake in Upstart by 65.6% during the third quarter. Morgan Stanley now owns 1,914,933 shares of the company’s stock worth $54,652,000 after buying an additional 758,669 shares during the period. Northern Trust Corp boosted its stake in Upstart by 141.6% during the second quarter. Northern Trust Corp now owns 710,654 shares of the company’s stock worth $25,449,000 after buying an additional 416,513 shares during the period. Finally, Geode Capital Management LLC boosted 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 worth $51,444,000 after buying an additional 407,395 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

About Upstart

(Get Free Report)

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.

Further Reading

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