Upstart (NASDAQ:UPST) Shares Down 9.4% – Time to Sell?

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) dropped 9.4% on Friday . The company traded as low as $71.30 and last traded at $71.77. Approximately 4,549,777 shares were traded during trading, a decline of 27% from the average daily volume of 6,229,057 shares. The stock had previously closed at $79.21.

Wall Street Analyst Weigh In

UPST has been the topic of a number of research reports. Barclays boosted their price objective on Upstart from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 18th. Needham & Company LLC upped their price target on Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Wedbush upped their price target on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and upped their price target for the company 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.38.

Upstart Stock Performance

The business has a 50 day moving average of $68.36 and a two-hundred day moving average of $57.37. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of -49.16 and a beta of 2.25.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results 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%. On average, equities analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Insider Transactions at Upstart

In related news, insider Natalia Mirgorodskaya sold 1,411 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $77.36, for a total transaction of $109,154.96. Following the completion of the sale, the insider now directly owns 18,596 shares of the company’s stock, valued at approximately $1,438,586.56. This trade represents a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kerry Whorton Cooper sold 500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $74.59, for a total value of $37,295.00. Following the sale, the director now directly owns 17,961 shares of the company’s stock, valued at $1,339,710.99. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 193,983 shares of company stock valued at $13,598,414 over the last ninety days. 18.06% of the stock is currently owned by insiders.

Institutional Trading of Upstart

Institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new stake in shares of Upstart during the third quarter valued at approximately $334,000. Tyler Stone Wealth Management increased its position in shares of Upstart by 94.1% during the third quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock valued at $2,222,000 after acquiring an additional 26,917 shares during the last quarter. Intech Investment Management LLC bought a new position in Upstart during the third quarter valued at $939,000. Quadrature Capital Ltd bought a new position in Upstart during the third quarter valued at $676,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Upstart by 63.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after purchasing an additional 282,481 shares during the period. 63.01% of the stock is owned by hedge funds and other 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.