Upstart (NASDAQ:UPST) Sets New 52-Week Low – Time to Sell?

Upstart Holdings, Inc. (NASDAQ:UPST) shares reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $23.72 and last traded at $24.29, with a volume of 1315240 shares changing hands. The stock had previously closed at $24.45.

Wall Street Analyst Weigh In

UPST has been the topic of a number of research analyst reports. Citigroup lowered their price target on Upstart from $80.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Piper Sandler lifted their target price on Upstart from $46.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group increased their price target on shares of Upstart from $32.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Wall Street Zen upgraded shares of Upstart from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Loop Capital started coverage on shares of Upstart in a research note on Tuesday, September 8th. They issued a “hold” rating and a $34.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Upstart presently has an average rating of “Hold” and a consensus target price of $43.75.

Upstart Price Performance

The business has a 50 day simple moving average of $28.02 and a 200 day simple moving average of $29.43. The stock has a market cap of $2.32 billion, a PE ratio of 48.59, a P/E/G ratio of 0.87 and a beta of 2.16.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $364.71 million for the quarter, compared to analysts’ expectations of $354.74 million. Upstart had a return on equity of 7.13% and a net margin of 4.84%.The firm’s revenue for the quarter was up 41.9% on a year-over-year basis. During the same period last year, the business earned $0.36 earnings per share. As a group, sell-side analysts forecast that Upstart Holdings, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Upstart

In other Upstart news, CEO Paul Gu bought 50,000 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was bought at an average cost of $25.55 per share, with a total value of $1,277,500.00. Following the completion of the transaction, the chief executive officer directly owned 130,000 shares of the company’s stock, valued at approximately $3,321,500. The trade was a 62.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrea Blankmeyer sold 7,175 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $29.36, for a total transaction of $210,658.00. Following the transaction, the chief financial officer owned 155,208 shares in the company, valued at approximately $4,556,906.88. This trade represents a 4.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 148,652 shares of company stock worth $4,133,720 in the last ninety days. Insiders own 17.29% of the company’s stock.

Institutional Investors Weigh In On Upstart

Institutional investors and hedge funds have recently modified their holdings of the business. Jericho Capital Asset Management L.P. raised its holdings in Upstart by 11.9% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 5,011,809 shares of the company’s stock valued at $219,166,000 after buying an additional 531,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Upstart by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,068,515 shares of the company’s stock worth $90,469,000 after acquiring an additional 26,734 shares in the last quarter. Halter Ferguson Financial Inc. boosted its stake in shares of Upstart by 253.3% during the 1st quarter. Halter Ferguson Financial Inc. now owns 1,467,360 shares of the company’s stock worth $37,638,000 after acquiring an additional 1,052,039 shares in the last quarter. Norges Bank acquired a new position in shares of Upstart during the 4th quarter valued at about $49,915,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Upstart by 267.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,022,780 shares of the company’s stock valued at $26,234,000 after acquiring an additional 744,190 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Upstart Company Profile

Upstart Holdings, Inc is a financial technology company that operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using alternative data and machine-learning models alongside traditional credit information to help lending partners evaluate applicants and originate loans.

The company’s offerings include technology for personal lending, auto lending and home equity lending. Upstart provides tools that support the application, underwriting and loan-origination process, while participating financial institutions generally fund and service the loans.