Upstart (NASDAQ:UPST) Sets New 52-Week Low – Should You Sell?

Upstart Holdings, Inc. (NASDAQ:UPST) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $23.72 and last traded at $24.29, with a volume of 1315240 shares traded. The stock had previously closed at $24.45.

Wall Street Analysts Forecast Growth

UPST has been the topic of several recent analyst reports. Citigroup cut their price objective on shares of Upstart from $80.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Loop Capital initiated coverage on shares of Upstart in a report on Tuesday, September 8th. They set a “hold” rating and a $34.00 price target on the stock. BTIG Research reissued a “buy” rating and set a $43.00 price target on shares of Upstart in a research report on Tuesday. Weiss Ratings upgraded shares of Upstart from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, September 14th. Finally, The Goldman Sachs Group increased their target price on Upstart from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $43.75.

Upstart Trading Up 0.7%

The firm has a market cap of $2.40 billion, a P/E ratio of 50.24, a PEG ratio of 0.92 and a beta of 2.16. The company’s 50 day simple moving average is $28.26 and its 200-day simple moving average is $29.50.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Upstart had a return on equity of 7.13% and a net margin of 4.84%.The company had revenue of $364.71 million during the quarter, compared to the consensus estimate of $354.74 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business’s revenue was up 41.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Upstart Holdings, Inc. will post 0.72 earnings per share for the current year.

Insider Activity at Upstart

In other Upstart news, CFO Andrea Blankmeyer sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $29.33, for a total transaction of $87,990.00. Following the completion of the sale, the chief financial officer directly owned 152,208 shares in the company, valued at approximately $4,464,260.64. The trade was a 1.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sanjay Datta sold 116,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $27.29, for a total value of $3,165,640.00. Following the completion of the transaction, the insider owned 476,578 shares in the company, valued at approximately $13,005,813.62. This trade represents a 19.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 148,652 shares of company stock worth $4,133,720. Company insiders own 17.29% of the company’s stock.

Institutional Investors Weigh In On Upstart

Large investors have recently made changes to their positions in the company. Jericho Capital Asset Management L.P. increased its position in shares of Upstart by 11.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 5,011,809 shares of the company’s stock valued at $219,166,000 after purchasing an additional 531,000 shares during the last quarter. Geode Capital Management LLC grew its position in Upstart by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,068,515 shares of the company’s stock valued at $90,469,000 after buying an additional 26,734 shares during the period. Halter Ferguson Financial Inc. grew its position in Upstart by 253.3% during the first quarter. Halter Ferguson Financial Inc. now owns 1,467,360 shares of the company’s stock valued at $37,638,000 after buying an additional 1,052,039 shares during the period. Norges Bank purchased a new stake in Upstart during the fourth quarter valued at approximately $49,915,000. Finally, Dimensional Fund Advisors LP increased its holdings in Upstart by 267.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,022,780 shares of the company’s stock valued at $26,234,000 after buying an additional 744,190 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Upstart Company Profile

Upstart Holdings, Inc is a financial technology company that operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using alternative data and machine-learning models alongside traditional credit information to help lending partners evaluate applicants and originate loans.

The company’s offerings include technology for personal lending, auto lending and home equity lending. Upstart provides tools that support the application, underwriting and loan-origination process, while participating financial institutions generally fund and service the loans.