Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $49.70, but opened at $47.89. Upstart shares last traded at $49.16, with a volume of 668,942 shares traded.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on UPST. Piper Sandler restated an "overweight" rating and issued a $105.00 price objective (up previously from $85.00) on shares of Upstart in a report on Wednesday, February 12th. The Goldman Sachs Group increased their price objective on shares of Upstart from $13.50 to $15.00 and gave the company a "sell" rating in a report on Wednesday, February 12th. Wedbush boosted their target price on Upstart from $60.00 to $75.00 and gave the stock a "neutral" rating in a report on Monday, December 2nd. Needham & Company LLC lifted their price objective on Upstart from $100.00 to $108.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised shares of Upstart from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $57.00 to $79.00 in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $73.38.
Check Out Our Latest Stock Analysis on Upstart
Upstart Stock Performance
The stock has a market cap of $5.15 billion, a price-to-earnings ratio of -37.55 and a beta of 2.25. The company has a 50 day moving average of $64.05 and a 200-day moving average of $60.02.
Upstart (NASDAQ:UPST - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. On average, research analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current year.
Insider Activity
In other news, CEO Dave Girouard sold 4,524 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.01, for a total value of $357,441.24. Following the transaction, the chief executive officer now owns 52,614 shares in the company, valued at approximately $4,157,032.14. This represents a 7.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Natalia Mirgorodskaya sold 794 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $62,741.88. Following the completion of the sale, the insider now directly owns 21,985 shares of the company's stock, valued at $1,737,254.70. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,062 shares of company stock worth $5,247,182. Corporate insiders own 18.06% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Rakuten Securities Inc. acquired a new position in Upstart during the 4th quarter worth approximately $31,000. Virtus Fund Advisers LLC acquired a new position in Upstart during the fourth quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Upstart in the third quarter valued at about $35,000. Farther Finance Advisors LLC grew its position in shares of Upstart by 24.2% in the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock valued at $54,000 after purchasing an additional 172 shares during the last quarter. Finally, BNP Paribas acquired a new position in shares of Upstart during the 3rd quarter worth approximately $37,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.
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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