Upstart (NASDAQ:UPST) Shares Down 5.2%

Upstart Holdings, Inc. (NASDAQ:UPST) shares fell 5.2% during mid-day trading on Tuesday . The company traded as low as $33.30 and last traded at $33.37. 937,100 shares traded hands during trading, a decline of 85% from the average session volume of 6,443,597 shares. The stock had previously closed at $35.19.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UPST. Barclays increased their price objective on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Redburn Atlantic raised Upstart from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $22.50 to $25.50 in a report on Tuesday, June 4th. BTIG Research began coverage on Upstart in a report on Friday, June 7th. They issued a “sell” rating and a $14.00 price target on the stock. Piper Sandler raised their price target on Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Citigroup raised Upstart from a “sell” rating to a “neutral” rating and raised their price target for the company from $15.00 to $33.00 in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.75.

Upstart Stock Performance

The stock has a market capitalization of $3.09 billion, a P/E ratio of -17.06 and a beta of 2.02. The firm has a 50-day moving average price of $32.46 and a 200 day moving average price of $27.29.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share (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 for the quarter, compared to analyst estimates of $124.55 million. During the same period last year, the company earned ($0.34) EPS. Upstart’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities analysts anticipate that Upstart Holdings, Inc. will post -2.39 earnings per share for the current fiscal 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, September 9th. The stock was sold at an average price of $34.85, for a total transaction of $52,275.00. Following the transaction, the chief financial officer now directly owns 344,593 shares in the company, valued at approximately $12,009,066.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $34.85, for a total value of $52,275.00. Following the completion of the sale, the chief financial officer now owns 344,593 shares in the company, valued at approximately $12,009,066.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Paul Gu sold 5,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $23.52, for a total value of $117,600.00. Following the completion of the sale, the chief technology officer now owns 894,629 shares of the company’s stock, valued at approximately $21,041,674.08. The disclosure for this sale can be found here. Insiders have sold a total of 159,459 shares of company stock worth $5,990,694 in the last ninety days. 18.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Upstart

Several institutional investors and hedge funds have recently bought and sold shares of UPST. Charles Schwab Investment Management Inc. lifted its stake in shares of Upstart by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 573,176 shares of the company’s stock valued at $23,420,000 after purchasing an additional 17,463 shares during the period. QRG Capital Management Inc. purchased a new position in shares of Upstart in the 4th quarter valued at approximately $219,000. Principal Financial Group Inc. lifted its stake in shares of Upstart by 12.2% in the 4th quarter. Principal Financial Group Inc. now owns 8,450 shares of the company’s stock valued at $345,000 after purchasing an additional 916 shares during the period. Ieq Capital LLC purchased a new position in shares of Upstart in the 4th quarter valued at approximately $261,000. Finally, Independent Advisor Alliance purchased a new position in shares of Upstart in the 4th quarter valued at approximately $268,000. 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.