Upstart (NASDAQ:UPST) Stock Price Up 7.3%

Shares of Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report) were up 7.3% during mid-day trading on Monday . The company traded as high as $23.28 and last traded at $23.22. Approximately 3,263,110 shares traded hands during trading, a decline of 47% from the average daily volume of 6,197,402 shares. The stock had previously closed at $21.64.

Analysts Set New Price Targets

A number of equities analysts have issued reports on UPST shares. Redburn Atlantic upgraded Upstart from a "sell" rating to a "neutral" rating and increased their target price for the stock from $22.50 to $25.50 in a report on Tuesday, June 4th. Piper Sandler restated a "neutral" rating and set a $28.00 price objective on shares of Upstart in a research note on Tuesday, March 19th. Mizuho reduced their price objective on shares of Upstart from $23.00 to $17.00 and set an "underperform" rating for the company in a research note on Thursday, May 9th. BTIG Research began coverage on shares of Upstart in a research note on Friday, June 7th. They set a "sell" rating and a $14.00 price objective for the company. Finally, JMP Securities restated a "market perform" rating on shares of Upstart in a research note on Wednesday, April 17th. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $21.65.

Upstart Trading Up 7.3 %

The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -11.27 and a beta of 2.01. The company's 50 day moving average is $23.94 and its 200-day moving average is $28.88.

Upstart (NASDAQ:UPST - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.06. The firm had revenue of $127.79 million during the quarter, compared to the consensus estimate of $124.82 million. Upstart had a negative net margin of 32.59% and a negative return on equity of 27.89%. Research analysts expect that Upstart Holdings, Inc. will post -2.67 EPS for the current year.

Insider Transactions at Upstart

In other news, insider Natalia Mirgorodskaya sold 2,156 shares of the firm's stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $24.27, for a total transaction of $52,326.12. Following the transaction, the insider now directly owns 25,821 shares of the company's stock, valued at $626,675.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Natalia Mirgorodskaya sold 2,156 shares of Upstart stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $24.27, for a total value of $52,326.12. Following the transaction, the insider now directly owns 25,821 shares of the company's stock, valued at $626,675.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Paul Gu sold 60,000 shares of Upstart stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $26.31, for a total transaction of $1,578,600.00. Following the completion of the transaction, the chief technology officer now directly owns 893,596 shares in the company, valued at $23,510,510.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 199,610 shares of company stock valued at $5,455,273. 18.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Upstart

A number of hedge funds have recently modified their holdings of UPST. GAMMA Investing LLC acquired a new position in Upstart in the fourth quarter valued at $25,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Upstart by 80.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company's stock valued at $47,000 after buying an additional 778 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Upstart in the third quarter valued at $51,000. Strs Ohio acquired a new position in Upstart in the fourth quarter valued at $57,000. Finally, ICA Group Wealth Management LLC acquired a new position in Upstart in the fourth quarter valued at $61,000. Institutional investors and hedge funds own 63.01% of the company's stock.

About Upstart

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.