Upstart (NASDAQ:UPST) Stock Price Down 8.3% – Should You Sell?

Upstart Holdings, Inc. (NASDAQ:UPST)’s share price was down 8.3% on Tuesday . The stock traded as low as $56.92 and last traded at $56.55. Approximately 2,909,082 shares were traded during trading, a decline of 54% from the average daily volume of 6,327,110 shares. The stock had previously closed at $61.69.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wedbush boosted their price objective on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Citigroup upped their price target on Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Barclays lifted their price objective on Upstart from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group raised their target price on shares of Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Finally, BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Two research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $73.38.

Upstart Stock Down 3.9 %

The company has a market capitalization of $5.55 billion, a P/E ratio of -40.59 and a beta of 2.25. The business has a 50 day moving average of $67.50 and a 200 day moving average of $58.85.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. On average, research analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Insider Activity at Upstart

In related news, CTO Paul Gu sold 4,019 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $75.00, for a total transaction of $301,425.00. Following the sale, the chief technology officer now owns 863,065 shares in the company, valued at approximately $64,729,875. This represents a 0.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Natalia Mirgorodskaya sold 794 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 21,985 shares of the company’s stock, valued at approximately $1,737,254.70. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,081 shares of company stock valued at $5,548,607. Insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

Hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in shares of Upstart by 3.1% during the fourth quarter. Jones Financial Companies Lllp now owns 5,511 shares of the company’s stock valued at $339,000 after buying an additional 167 shares during the period. Farther Finance Advisors LLC boosted its holdings in Upstart by 24.2% during the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after acquiring an additional 172 shares during the period. Bailard Inc. grew its position in Upstart by 0.5% in the 4th quarter. Bailard Inc. now owns 38,759 shares of the company’s stock valued at $2,386,000 after acquiring an additional 212 shares during the last quarter. GAMMA Investing LLC grew its position in Upstart by 19.9% in the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $83,000 after acquiring an additional 224 shares during the last quarter. Finally, Orion Capital Management LLC increased its stake in Upstart by 5.1% in the third quarter. Orion Capital Management LLC now owns 5,560 shares of the company’s stock worth $222,000 after purchasing an additional 270 shares during the period. 63.01% of the stock is currently owned by 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.