Upstart (NASDAQ:UPST) Shares Gap Down to $26.43

Upstart Holdings, Inc. (NASDAQ:UPSTGet Free Report)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $26.43, but opened at $25.30. Upstart shares last traded at $24.97, with a volume of 822,044 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Upstart from $26.00 to $24.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 14th. Piper Sandler reissued a “neutral” rating and set a $28.00 price target on shares of Upstart in a research report on Tuesday, March 19th. Finally, Mizuho upped their price objective on Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a research note on Thursday, January 18th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.44.

Get Our Latest Stock Report on UPST

Upstart Stock Down 4.0 %

The firm has a 50 day moving average price of $28.20 and a 200-day moving average price of $29.91.

Upstart (NASDAQ:UPSTGet Free Report) last posted its earnings results on Tuesday, February 13th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.05. The firm had revenue of $140.31 million for the quarter, compared to analyst estimates of $135.28 million. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. As a group, research analysts anticipate that Upstart Holdings, Inc. will post -2.19 EPS for the current year.

Insider Buying and Selling at Upstart

In other news, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $31.04, for a total value of $31,040.00. Following the sale, the chief financial officer now directly owns 358,090 shares of the company’s stock, valued at $11,115,113.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Upstart news, insider Natalia Mirgorodskaya sold 1,919 shares of Upstart stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $24.30, for a total value of $46,631.70. Following the sale, the insider now owns 28,246 shares in the company, valued at $686,377.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $31.04, for a total value of $31,040.00. Following the completion of the sale, the chief financial officer now owns 358,090 shares in the company, valued at approximately $11,115,113.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,777 shares of company stock valued at $351,209. Company insiders own 18.45% of the company’s stock.

Institutional Investors Weigh In On Upstart

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC acquired a new stake in shares of Upstart in the first quarter valued at $45,000. GAMMA Investing LLC acquired a new stake in shares of Upstart in the fourth quarter valued at $25,000. IFP Advisors Inc grew its stake in shares of Upstart by 4,153.3% in the second quarter. IFP Advisors Inc now owns 638 shares of the company’s stock valued at $26,000 after buying an additional 623 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Upstart during the 2nd quarter worth $26,000. Finally, Comerica Bank acquired a new position in Upstart during the 3rd quarter worth $27,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

About Upstart

(Get Free Report)

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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