Upstart (NASDAQ:UPST) Trading 5.8% Higher

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) were up 5.8% during trading on Wednesday . The stock traded as high as $35.57 and last traded at $35.44. Approximately 1,420,116 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 8,548,267 shares. The stock had previously closed at $33.50.

Wall Street Analysts Forecast Growth

UPST has been the subject of several recent analyst reports. 22nd Century Group reiterated an “initiates” rating on shares of Upstart in a research note on Wednesday, June 14th. BTIG Research cut their price target on shares of Upstart from $72.00 to $64.00 in a report on Wednesday, August 9th. B. Riley started coverage on shares of Upstart in a research report on Wednesday, July 26th. They issued a “neutral” rating and a $49.00 price target on the stock. They noted that the move was a valuation call. Morgan Stanley raised their price objective on shares of Upstart from $10.00 to $13.00 in a report on Wednesday, May 10th. Finally, Compass Point boosted their target price on Upstart from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Wednesday, August 23rd. Five research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Upstart has a consensus rating of “Hold” and a consensus price target of $27.00.

Upstart Trading Down 2.3 %

The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -10.21 and a beta of 1.99. The firm has a fifty day simple moving average of $43.74 and a 200-day simple moving average of $28.67.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.15. The business had revenue of $135.77 million for the quarter, compared to analysts’ expectations of $133.91 million. Upstart had a negative return on equity of 38.15% and a negative net margin of 49.54%. On average, equities analysts predict that Upstart Holdings, Inc. will post -2.41 earnings per share for the current fiscal year.

Insider Transactions at Upstart

In related news, CEO Dave Girouard sold 3,620 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $32.64, for a total value of $118,156.80. Following the transaction, the chief executive officer now directly owns 76,293 shares in the company, valued at $2,490,203.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Natalia Mirgorodskaya sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the insider now directly owns 39,470 shares in the company, valued at approximately $2,368,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dave Girouard sold 3,620 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $32.64, for a total transaction of $118,156.80. Following the completion of the sale, the chief executive officer now owns 76,293 shares in the company, valued at $2,490,203.52. The disclosure for this sale can be found here. Insiders sold a total of 73,063 shares of company stock worth $2,425,995 in the last quarter. 18.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Upstart

Large investors have recently bought and sold shares of the company. WMG Financial Advisors LLC grew its holdings in shares of Upstart by 0.9% in the 1st quarter. WMG Financial Advisors LLC now owns 82,430 shares of the company’s stock valued at $1,311,000 after buying an additional 760 shares during the period. Tradition Wealth Management LLC raised its position in shares of Upstart by 981.6% during the first quarter. Tradition Wealth Management LLC now owns 3,818 shares of the company’s stock worth $61,000 after purchasing an additional 3,465 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Upstart by 32.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 37,514 shares of the company’s stock valued at $596,000 after purchasing an additional 9,262 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of Upstart by 10.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 14,201 shares of the company’s stock valued at $226,000 after purchasing an additional 1,310 shares during the period. Finally, Resources Management Corp CT ADV increased its stake in Upstart by 626,600.0% during the 1st quarter. Resources Management Corp CT ADV now owns 31,335 shares of the company’s stock worth $1,171,000 after purchasing an additional 31,330 shares in the last quarter. Institutional investors own 42.50% 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 aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank and credit union partners. The company was founded in 2012 and is headquartered in San Mateo, California.