Upstart (NASDAQ:UPST) Shares Gap Down – Should You Sell?

Upstart Holdings, Inc. (NASDAQ:UPST) gapped down prior to trading on Thursday . The stock had previously closed at $52.87, but opened at $51.14. Upstart shares last traded at $50.59, with a volume of 1,299,008 shares traded.

Analyst Ratings Changes

Several equities analysts have issued reports on UPST shares. The Goldman Sachs Group upped their target price on shares of Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Piper Sandler restated an “overweight” rating and set a $105.00 price target (up from $85.00) on shares of Upstart in a research note on Wednesday, February 12th. Needham & Company LLC raised their price objective on shares of Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley raised shares of Upstart from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $12.00 to $70.00 in a report on Friday, February 14th. Finally, Citigroup lifted their price target on shares of Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five 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 price target of $73.38.

Upstart Trading Down 3.7 %

The firm has a 50 day moving average of $63.19 and a 200-day moving average of $60.13. The company has a market cap of $4.43 billion, a P/E ratio of -32.39 and a beta of 2.25.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. Equities analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Dave Girouard sold 4,524 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.01, for a total value of $357,441.24. Following the completion of the transaction, the chief executive officer now owns 52,614 shares of the company’s stock, valued at approximately $4,157,032.14. This trade represents a 7.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Natalia Mirgorodskaya sold 794 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $62,741.88. Following the sale, the insider now directly owns 21,985 shares in the company, valued at $1,737,254.70. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,062 shares of company stock valued at $5,247,182 in the last three months. Corporate insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rakuten Securities Inc. bought a new stake in Upstart in the fourth quarter worth about $31,000. Virtus Fund Advisers LLC purchased a new position in Upstart during the 4th quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Upstart during the third quarter valued at approximately $35,000. BNP Paribas purchased a new stake in shares of Upstart during the 3rd quarter worth $37,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Upstart by 24.2% during the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after buying an additional 172 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.