Upstart Holdings, Inc. (NASDAQ:UPST – Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $84.16, but opened at $80.19. Upstart shares last traded at $85.04, with a volume of 3,601,044 shares changing hands.
Analysts Set New Price Targets
UPST has been the subject of several research analyst reports. Bank of America lifted their price objective on Upstart from $33.00 to $39.00 and gave the stock an “underperform” rating in a research report on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $105.00 price target (up from $85.00) on shares of Upstart in a research note on Wednesday. The Goldman Sachs Group raised their price objective on shares of Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research report on Wednesday. Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Finally, Needham & Company LLC raised their price target on shares of Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.92.
Get Our Latest Stock Analysis on UPST
Upstart Trading Down 2.1 %
Upstart (NASDAQ:UPST – Get Free Report) last posted 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 net margin of 30.15% and a negative return on equity of 32.57%. As a group, research analysts forecast that Upstart Holdings, Inc. will post -2.18 EPS for the current year.
Insider Buying and Selling at Upstart
In other news, CTO Paul Gu sold 87,600 shares of Upstart stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $69.39, for a total transaction of $6,078,564.00. Following the sale, the chief technology officer now directly owns 863,065 shares in the company, valued at $59,888,080.35. The trade was a 9.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the completion of the transaction, the chief executive officer now directly owns 57,138 shares in the company, valued at $3,576,838.80. This trade represents a 42.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,201 shares of company stock worth $17,003,724. Insiders own 18.06% of the company’s stock.
Institutional Investors Weigh In On Upstart
Several large investors have recently modified their holdings of UPST. Rakuten Securities Inc. bought a new position in Upstart during the fourth quarter valued at $31,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Upstart during the 3rd quarter valued at $35,000. Farther Finance Advisors LLC grew its stake in shares of Upstart by 24.2% during the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock worth $54,000 after acquiring an additional 172 shares during the period. BNP Paribas purchased a new stake in Upstart in the 3rd quarter worth about $37,000. Finally, Blue Trust Inc. raised its stake in Upstart by 125.3% in the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after acquiring an additional 550 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.
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.
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