Upstart (NASDAQ:UPST) Stock Price Up 8% – Here’s What Happened

Upstart Holdings, Inc. (NASDAQ:UPST)’s stock price traded up 8% on Monday . The company traded as high as $40.09 and last traded at $37.60. Approximately 4,878,647 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 6,428,740 shares. The stock had previously closed at $34.80.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Bank of America boosted their price objective on Upstart from $33.00 to $39.00 and gave the stock an “underperform” rating in a report on Wednesday, February 12th. B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their price target for the company from $49.00 to $105.00 in a research report on Wednesday, February 12th. The Goldman Sachs Group raised their price objective on shares of Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Citigroup boosted their target price on shares of Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $57.00 to $79.00 in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.38.

Upstart Stock Performance

The company has a 50 day moving average of $58.19 and a 200 day moving average of $60.38. The firm has a market cap of $4.04 billion, a P/E ratio of -29.55 and a beta of 2.39.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. As a group, analysts expect that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling at Upstart

In other Upstart news, CEO Dave Girouard sold 4,524 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.01, for a total value of $357,441.24. Following the sale, the chief executive officer now directly owns 52,614 shares in the company, valued at $4,157,032.14. This trade represents a 7.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Paul Gu sold 12,007 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $948,793.14. Following the transaction, the chief technology officer now owns 1,006,599 shares in the company, valued at $79,541,452.98. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,062 shares of company stock worth $5,247,182 over the last three months. Corporate insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

A number of institutional investors and hedge funds have recently modified their holdings of UPST. Rakuten Securities Inc. bought a new position in Upstart in the fourth quarter worth $31,000. Virtus Fund Advisers LLC bought a new position in shares of Upstart during the 4th quarter worth about $32,000. Farther Finance Advisors LLC boosted its position in shares of Upstart by 24.2% during the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after acquiring an additional 172 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Upstart in the fourth quarter valued at about $62,000. Finally, GAMMA Investing LLC raised its position in Upstart by 19.9% in the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $83,000 after purchasing an additional 224 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

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.