Upstart (NASDAQ:UPST) Shares Down 6.8%

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) fell 6.8% during trading on Monday . The stock traded as low as $22.06 and last traded at $22.20. 3,198,010 shares were traded during mid-day trading, a decline of 54% from the average session volume of 7,021,260 shares. The stock had previously closed at $23.82.

Analyst Upgrades and Downgrades

UPST has been the subject of several research reports. Mizuho boosted their price objective on shares of Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. decreased their price target on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. Piper Sandler reissued a “neutral” rating and issued a $28.00 price objective on shares of Upstart in a research note on Tuesday, March 19th. Finally, Bank of America assumed coverage on Upstart in a research report on Thursday, April 4th. They set an “underperform” rating and a $22.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.00.

Upstart Stock Up 0.7 %

The business’s 50 day moving average is $26.30 and its 200 day moving average is $29.67.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.05. The business had revenue of $140.31 million for the quarter, compared to the consensus estimate of $135.28 million. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. On average, analysts forecast that Upstart Holdings, Inc. will post -2.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Scott Darling sold 1,298 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $35.38, for a total transaction of $45,923.24. Following the transaction, the insider now directly owns 169,527 shares in the company, valued at approximately $5,997,865.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Natalia Mirgorodskaya sold 1,919 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $24.30, for a total value of $46,631.70. Following the transaction, the insider now directly owns 28,246 shares in the company, valued at $686,377.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,777 shares of company stock worth $1,864,629. 18.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Upstart

Several institutional investors have recently added to or reduced their stakes in the business. Guggenheim Capital LLC raised its position in shares of Upstart by 18.0% in the 1st quarter. Guggenheim Capital LLC now owns 2,101 shares of the company’s stock valued at $229,000 after purchasing an additional 320 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Upstart by 8.7% during the first quarter. Advisors Asset Management Inc. now owns 4,584 shares of the company’s stock worth $500,000 after buying an additional 365 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Upstart by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 25,015 shares of the company’s stock valued at $1,022,000 after buying an additional 389 shares during the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Upstart by 38.6% during the first quarter. Salem Investment Counselors Inc. now owns 1,455 shares of the company’s stock valued at $159,000 after buying an additional 405 shares during the last quarter. Finally, SkyView Investment Advisors LLC acquired a new position in shares of Upstart in the 1st quarter valued at $45,000. Institutional investors and hedge funds 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.