Upstart (NASDAQ:UPST) Shares Gap Down – What’s Next?

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) gapped down before the market opened on Tuesday . The stock had previously closed at $77.48, but opened at $71.10. Upstart shares last traded at $71.23, with a volume of 4,138,166 shares traded.

Analyst Ratings Changes

Several brokerages recently weighed in on UPST. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research report on Monday. Wedbush upped their price objective on Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday. 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. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and increased their target price for the company from $30.00 to $45.00 in a research report on Friday. Finally, Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and increased their target price for the company from $31.00 to $85.00 in a research report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $46.83.

Upstart Stock Down 13.7 %

The company has a market cap of $5.98 billion, a price-to-earnings ratio of -35.43 and a beta of 1.97. The firm has a 50 day moving average price of $45.28 and a two-hundred day moving average price of $33.93.

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 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. Also, CEO Dave Girouard sold 3,361 shares of the firm’s 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 sale, the chief executive officer now directly owns 61,512 shares of the company’s stock, valued at $2,358,985.20. This represents 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 Investors Weigh In On Upstart

A number of hedge funds have recently added to or reduced their stakes in UPST. Anfield Capital Management LLC acquired a new stake in Upstart in the second quarter valued at approximately $33,000. Blue Trust Inc. grew its stake in Upstart by 125.3% in the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after acquiring an additional 550 shares during the period. Hollencrest Capital Management acquired a new stake in Upstart in the third quarter valued at approximately $40,000. Indiana Trust & Investment Management Co acquired a new stake in Upstart in the third quarter valued at approximately $43,000. Finally, Prospera Private Wealth LLC acquired a new stake in Upstart in the third quarter valued at approximately $47,000. 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.