Upstart Holdings, Inc. (NASDAQ:UPST) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) have been assigned an average rating of “Hold” from the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $42.94.

UPST has been the subject of a number of recent analyst reports. Loop Capital initiated coverage on Upstart in a research report on Tuesday, September 8th. They issued a “hold” rating and a $34.00 price objective for the company. The Goldman Sachs Group reduced their target price on Upstart from $39.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday. Wall Street Zen raised shares of Upstart from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. BTIG Research restated a “buy” rating and set a $43.00 price objective on shares of Upstart in a research note on Tuesday, September 22nd. Finally, Weiss Ratings lowered shares of Upstart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, September 28th.

Insiders Place Their Bets

In other Upstart news, CFO Andrea Blankmeyer sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was 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 owned 152,208 shares in the company, valued at $4,464,260.64. This trade represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 Natalia Mirgorodskaya sold 913 shares of Upstart stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $30.03, for a total value of $27,417.39. Following the sale, the insider owned 35,875 shares in the company, valued at $1,077,326.25. This represents a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 148,652 shares of company stock valued at $4,133,720 over the last ninety days. Insiders own 17.29% of the company’s stock.

Institutional Trading of Upstart

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc increased its position in shares of Upstart by 26.7% in the 2nd quarter. Versant Capital Management Inc now owns 2,905 shares of the company’s stock worth $103,000 after purchasing an additional 612 shares during the last quarter. State of Wyoming increased its holdings in Upstart by 10.8% in the first quarter. State of Wyoming now owns 6,901 shares of the company’s stock valued at $177,000 after buying an additional 674 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Upstart by 25.7% during the third quarter. Farther Finance Advisors LLC now owns 4,307 shares of the company’s stock valued at $99,000 after buying an additional 881 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in Upstart by 7.5% during the first quarter. Pictet Asset Management Holding SA now owns 14,528 shares of the company’s stock valued at $373,000 after buying an additional 1,018 shares in the last quarter. Finally, KBC Group NV raised its stake in Upstart by 45.5% during the first quarter. KBC Group NV now owns 3,510 shares of the company’s stock valued at $90,000 after buying an additional 1,097 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Upstart Trading Down 4.8%

Shares of NASDAQ UPST opened at $23.56 on Monday. The company’s 50-day moving average price is $26.53 and its 200 day moving average price is $29.11. Upstart has a 52 week low of $22.21 and a 52 week high of $55.22. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 48.08, a PEG ratio of 0.88 and a beta of 2.43.

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

Upstart Company Profile

Upstart Holdings, Inc (NASDAQ: UPST) operates an artificial intelligence-powered lending platform that connects consumers seeking credit with banks and credit unions. Its technology is designed to evaluate a broader range of borrower information than traditional credit-scoring methods, with the goal of helping lending partners assess risk and automate portions of the application and underwriting process.

The company’s platform supports lending products including personal loans, automotive loans and refinancing, and home equity lines of credit.