Upstart (NASDAQ:UPST) Trading Down 4.2% – What’s Next?

Upstart Holdings, Inc. (NASDAQ:UPST)’s stock price fell 4.2% during trading on Thursday . The stock traded as low as $68.67 and last traded at $70.21. 3,399,695 shares were traded during mid-day trading, a decline of 51% from the average session volume of 6,868,693 shares. The stock had previously closed at $73.32.

Analysts Set New Price Targets

Several brokerages have recently weighed in on UPST. Wedbush upped their target price on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Mizuho increased their price objective on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Needham & Company LLC upgraded shares of Upstart from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Friday, December 13th. Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their target price for the company from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. downgraded shares of Upstart from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $45.00 to $57.00 in a research note on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.80.

Upstart Price Performance

The firm has a market cap of $6.25 billion, a P/E ratio of -35.50 and a beta of 2.19. The firm’s 50-day moving average price is $64.95 and its 200 day moving average price is $43.34.

Insider Activity

In related news, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $65.15, for a total transaction of $2,714,605.05. Following the completion of the sale, the chief executive officer now owns 61,512 shares of the company’s stock, valued at $4,007,506.80. This represents a 40.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Paul Gu sold 87,600 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief technology officer now directly owns 863,065 shares in the company, valued at $59,888,080.35. This represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 533,368 shares of company stock worth $32,813,134. 18.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Upstart

Several institutional investors have recently modified their holdings of UPST. Anfield Capital Management LLC bought a new position in Upstart in the 2nd quarter worth about $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Upstart during the third quarter worth approximately $35,000. BNP Paribas bought a new position in Upstart in the 3rd quarter worth approximately $37,000. Blue Trust Inc. increased its position 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. Finally, Hollencrest Capital Management bought a new stake in Upstart during the 3rd quarter valued at $40,000. 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.