Upstart (NASDAQ:UPST) Trading 8.2% Higher – Here’s Why

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) traded up 8.2% on Tuesday . The stock traded as high as $51.46 and last traded at $51.12. 2,079,293 shares traded hands during trading, a decline of 68% from the average session volume of 6,582,157 shares. The stock had previously closed at $47.24.

Analyst Upgrades and Downgrades

UPST has been the subject of several research reports. Barclays increased their target price on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Mizuho increased their target price on Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Wedbush upgraded Upstart from an “underperform” rating to a “neutral” rating and increased their target price for the company from $10.00 to $45.00 in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their target price on Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.50.

Upstart Stock Up 6.7 %

The company has a market cap of $4.83 billion, a price-to-earnings ratio of -23.07 and a beta of 1.97. The firm has a 50 day moving average price of $43.32 and a two-hundred day moving average price of $32.69.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.22. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The business had revenue of $127.63 million during the quarter, compared to analysts’ expectations of $124.55 million. During the same quarter last year, the firm posted ($0.34) earnings per share. The firm’s revenue was down 6.0% on a year-over-year basis. On average, equities analysts expect that Upstart Holdings, Inc. will post -2.39 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $51.70, for a total transaction of $77,550.00. Following the completion of the sale, the chief financial officer now owns 334,093 shares of the company’s stock, valued at $17,272,608.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Upstart news, CEO Dave Girouard sold 3,361 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the transaction, the chief executive officer now owns 61,512 shares in the company, valued at approximately $2,358,985.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $51.70, for a total value of $77,550.00. Following the completion of the transaction, the chief financial officer now owns 334,093 shares in the company, valued at approximately $17,272,608.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 312,959 shares of company stock valued at $13,724,175 over the last 90 days. Company insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in UPST. Private Advisor Group LLC boosted its holdings in Upstart by 13.6% in the first quarter. Private Advisor Group LLC now owns 17,936 shares of the company’s stock worth $482,000 after acquiring an additional 2,149 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Upstart in the first quarter valued at approximately $658,000. Swiss National Bank lifted its holdings in shares of Upstart by 1.6% in the first quarter. Swiss National Bank now owns 142,700 shares of the company’s stock valued at $3,837,000 after purchasing an additional 2,200 shares in the last quarter. TCI Wealth Advisors Inc. lifted its holdings in shares of Upstart by 18.0% in the first quarter. TCI Wealth Advisors Inc. now owns 39,971 shares of the company’s stock valued at $1,075,000 after purchasing an additional 6,088 shares in the last quarter. Finally, Inspire Advisors LLC lifted its holdings in shares of Upstart by 5.8% in the first quarter. Inspire Advisors LLC now owns 16,143 shares of the company’s stock valued at $434,000 after purchasing an additional 890 shares in the last quarter. 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.