Upstart (NASDAQ:UPST) Trading Up 6.8% – Time to Buy?

Upstart Holdings, Inc. (NASDAQ:UPST) traded up 6.8% during trading on Thursday . The stock traded as high as $47.95 and last traded at $48.0940. 585,669 shares were traded during trading, a decline of 91% from the average session volume of 6,419,546 shares. The stock had previously closed at $45.05.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on UPST shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Upstart in a research note on Monday. Morgan Stanley set a $45.00 price objective on shares of Upstart in a research note on Wednesday, November 5th. Stephens decreased their target price on shares of Upstart from $55.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. JPMorgan Chase & Co. dropped their price target on shares of Upstart from $88.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, Citigroup dropped their price objective on Upstart from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Upstart currently has a consensus rating of “Hold” and an average target price of $60.50.

Upstart Stock Up 8.2%

The firm has a 50 day simple moving average of $45.05 and a two-hundred day simple moving average of $58.83. The stock has a market capitalization of $4.74 billion, a P/E ratio of 220.97 and a beta of 2.27.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Upstart had a return on equity of 3.68% and a net margin of 3.33%.The company had revenue of $258.54 million during the quarter, compared to analysts’ expectations of $288.94 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. Upstart’s revenue was up 70.9% on a year-over-year basis. On average, research analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Insider Activity at Upstart

In other Upstart news, insider Natalia Mirgorodskaya sold 762 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $38.91, for a total value of $29,649.42. Following the completion of the transaction, the insider directly owned 26,398 shares in the company, valued at approximately $1,027,146.18. This trade represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Paul Gu purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were purchased at an average cost of $39.23 per share, for a total transaction of $3,923,000.00. Following the completion of the purchase, the chief technology officer directly owned 80,000 shares of the company’s stock, valued at approximately $3,138,400. This represents a -500.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 16,707 shares of company stock valued at $633,080. Company insiders own 16.67% of the company’s stock.

Institutional Investors Weigh In On Upstart

Several hedge funds have recently added to or reduced their stakes in the business. Cresset Asset Management LLC increased its holdings in Upstart by 3.3% in the second quarter. Cresset Asset Management LLC now owns 5,241 shares of the company’s stock valued at $339,000 after purchasing an additional 169 shares during the period. Jennison Associates LLC grew its position in shares of Upstart by 1.8% in the 2nd quarter. Jennison Associates LLC now owns 11,382 shares of the company’s stock valued at $736,000 after buying an additional 205 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Upstart by 3.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,448 shares of the company’s stock valued at $386,000 after buying an additional 218 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Upstart by 29.1% during the second quarter. Daiwa Securities Group Inc. now owns 1,068 shares of the company’s stock worth $69,000 after acquiring an additional 241 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in shares of Upstart by 5.3% during the second quarter. Advisory Services Network LLC now owns 5,399 shares of the company’s stock worth $349,000 after acquiring an additional 272 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.