Upstart (NASDAQ:UPST) Stock Price Down 18.3% - What's Next?

Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report) shares were down 18.3% during trading on Thursday . The company traded as low as $39.21 and last traded at $38.92. Approximately 8,145,242 shares traded hands during trading, an increase of 28% from the average daily volume of 6,364,249 shares. The stock had previously closed at $47.63.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UPST. Barclays raised their price target on Upstart from $80.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 18th. Piper Sandler restated an "overweight" rating and set a $105.00 target price (up from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. Morgan Stanley upgraded shares of Upstart from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $12.00 to $70.00 in a research report on Friday, February 14th. Bank of America raised their price objective on shares of Upstart from $33.00 to $39.00 and gave the stock an "underperform" 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 upped their target price for the company from $57.00 to $79.00 in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $73.38.

Upstart Stock Performance

The stock has a 50 day moving average price of $59.11 and a 200 day moving average price of $60.47. The company has a market cap of $3.36 billion, a P/E ratio of -24.58 and a beta of 2.39.

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, topping analysts' consensus estimates of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. As a group, equities research analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Insider Activity

In other Upstart news, insider Natalia Mirgorodskaya sold 794 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $62,741.88. Following the sale, the insider now directly owns 21,985 shares in the company, valued at $1,737,254.70. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dave Girouard sold 4,524 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.01, for a total transaction of $357,441.24. Following the completion of the sale, the chief executive officer now owns 52,614 shares of the company's stock, valued at approximately $4,157,032.14. The trade was a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,062 shares of company stock valued at $5,247,182 over the last 90 days. 18.06% of the stock is currently owned by company insiders.

Institutional Trading of Upstart

A number of hedge funds have recently modified their holdings of the company. Rakuten Securities Inc. acquired a new position in shares of Upstart in the fourth quarter valued at $31,000. Virtus Fund Advisers LLC bought a new stake in Upstart in the 4th quarter valued at $32,000. Farther Finance Advisors LLC raised its stake in shares of Upstart by 24.2% in the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock valued at $54,000 after buying an additional 172 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Upstart during the 4th quarter worth about $62,000. Finally, GAMMA Investing LLC boosted its position in shares of Upstart by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $83,000 after acquiring an additional 224 shares in the last quarter. Institutional investors 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.