Upstart (NASDAQ:UPST) Stock Price Down 18.3% – Time to Sell?

Upstart Holdings, Inc. (NASDAQ:UPST)’s share price was down 18.3% on Thursday . The company traded as low as $39.21 and last traded at $38.92. Approximately 8,145,242 shares were traded during trading, an increase of 28% from the average daily volume of 6,364,249 shares. The stock had previously closed at $47.63.

Wall Street Analyst Weigh In

A number of brokerages recently commented on UPST. Piper Sandler reissued 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. Bank of America raised their target price on shares of Upstart from $33.00 to $39.00 and gave the company an “underperform” 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 price target for the company from $12.00 to $70.00 in a research note on Friday, February 14th. B. Riley raised shares of Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $105.00 in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and upped their target price for the company from $57.00 to $79.00 in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.38.

Upstart Stock Down 18.8 %

The stock has a market capitalization of $3.63 billion, a P/E ratio of -26.50 and a beta of 2.25. The stock’s 50 day moving average price is $62.13 and its 200-day moving average price is $60.52.

Upstart (NASDAQ:UPST) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share 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%. Analysts anticipate that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Insider Buying and Selling

In other Upstart news, insider Natalia Mirgorodskaya sold 794 shares of Upstart stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $62,741.88. Following the completion of the sale, the insider now owns 21,985 shares of the company’s stock, valued at approximately $1,737,254.70. The trade was a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale, the chief technology officer now owns 1,006,599 shares in the company, valued at approximately $79,541,452.98. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,062 shares of company stock worth $5,247,182 in the last three months. Corporate insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

A number of institutional investors have recently modified their holdings of UPST. Quadrature Capital Ltd purchased a new position in Upstart during the third quarter valued at approximately $676,000. Union Bancaire Privee UBP SA purchased a new position in shares of Upstart during the 4th quarter valued at approximately $2,057,000. Two Sigma Advisers LP boosted its holdings in Upstart by 689.5% during the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after buying an additional 514,400 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Upstart during the third quarter valued at $430,000. Finally, Geode Capital Management LLC increased its holdings in Upstart by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock valued at $72,702,000 after buying an additional 29,482 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.