Upstart (NASDAQ:UPST) Stock Price Down 5.3% – Time to Sell?

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) fell 5.3% during mid-day trading on Thursday . The stock traded as low as $51.20 and last traded at $51.52. 3,118,257 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 6,686,321 shares. The stock had previously closed at $54.38.

Analyst Upgrades and Downgrades

UPST has been the subject of a number of recent research reports. Citigroup upgraded shares of Upstart from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $15.00 to $33.00 in a research note on Wednesday, August 7th. Barclays increased their price target on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Wedbush raised shares of Upstart from an “underperform” rating to a “neutral” rating and upped their target price for the company from $10.00 to $45.00 in a report on Monday. JPMorgan Chase & Co. lifted their price target on Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Upstart presently has a consensus rating of “Hold” and an average price target of $31.50.

Upstart Price Performance

The business’s 50-day moving average is $39.94 and its 200 day moving average is $30.04. The firm has a market capitalization of $4.66 billion, a P/E ratio of -21.82 and a beta of 2.01.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.22. The business had revenue of $127.63 million during the quarter, compared to analysts’ expectations of $124.55 million. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.34) earnings per share. Analysts anticipate that Upstart Holdings, Inc. will post -2.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Scott Darling sold 84,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $50.02, for a total value of $4,201,680.00. Following the completion of the transaction, the insider now directly owns 152,043 shares in the company, valued at approximately $7,605,190.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Upstart news, CEO Dave Girouard sold 3,361 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the sale, the chief executive officer now owns 61,512 shares of the company’s stock, valued at approximately $2,358,985.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott Darling sold 84,000 shares of Upstart stock in a transaction on Monday, October 14th. The shares were sold at an average price of $50.02, for a total value of $4,201,680.00. Following the completion of the transaction, the insider now owns 152,043 shares in the company, valued at approximately $7,605,190.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 312,959 shares of company stock valued at $13,641,350 over the last quarter. 18.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its stake in shares of Upstart by 1,792.9% in the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after purchasing an additional 277,896 shares in the last quarter. Vanguard Group Inc. increased its holdings in Upstart by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock worth $286,589,000 after purchasing an additional 157,719 shares in the last quarter. Seven Eight Capital LP raised its position in Upstart by 349.1% in the first quarter. Seven Eight Capital LP now owns 189,385 shares of the company’s stock valued at $5,093,000 after purchasing an additional 147,213 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Upstart by 442.1% during the second quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock valued at $3,496,000 after purchasing an additional 120,871 shares in the last quarter. Finally, Magnetar Financial LLC boosted its stake in shares of Upstart by 1,106.7% during the first quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock valued at $2,616,000 after purchasing an additional 89,219 shares in the last quarter. 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.