Upstart (NASDAQ:UPST) Trading Down 5.3% – Time to Sell?

Upstart Holdings, Inc. (NASDAQ:UPST) shares dropped 5.3% on Thursday . The company traded as low as $51.20 and last traded at $51.52. Approximately 3,118,257 shares were traded during trading, a decline of 53% from the average daily volume of 6,686,321 shares. The stock had previously closed at $54.38.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Piper Sandler raised their price target on shares of Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Barclays raised their target price on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Mizuho upped their price target on Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. Three equities research 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. According to data from MarketBeat.com, Upstart presently has an average rating of “Hold” and an average target price of $31.50.

Upstart Stock Down 4.3 %

The firm has a market cap of $4.66 billion, a price-to-earnings ratio of -21.82 and a beta of 2.01. The firm has a 50 day moving average of $39.94 and a 200 day moving average of $30.04.

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

Insider Buying and Selling

In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $48.68, for a total value of $73,020.00. Following the completion of the sale, the chief financial officer now owns 337,093 shares of the company’s stock, valued at approximately $16,409,687.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $48.68, for a total transaction of $73,020.00. Following the completion of the transaction, the chief financial officer now directly owns 337,093 shares in the company, valued at $16,409,687.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,264 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total transaction of $48,487.04. Following the completion of the sale, the insider now owns 24,557 shares in the company, valued at $942,006.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 312,959 shares of company stock valued at $13,641,350. 18.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Anfield Capital Management LLC bought a new position in Upstart during the 2nd quarter valued at $33,000. Indiana Trust & Investment Management Co purchased a new stake in shares of Upstart in the third quarter valued at about $43,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Upstart by 80.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock worth $47,000 after purchasing an additional 778 shares during the last quarter. GAMMA Investing LLC grew its position in Upstart by 259.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after purchasing an additional 1,590 shares in the last quarter. Finally, Comerica Bank increased its stake in Upstart by 144.0% in the 1st quarter. Comerica Bank now owns 2,313 shares of the company’s stock valued at $62,000 after buying an additional 1,365 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

About Upstart

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.