Upstart (NASDAQ:UPST) Hits New 1-Year High – Here’s What Happened

Upstart Holdings, Inc. (NASDAQ:UPST)’s stock price reached a new 52-week high on Monday . The company traded as high as $51.66 and last traded at $51.18, with a volume of 3267582 shares traded. The stock had previously closed at $47.02.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on UPST shares. Barclays boosted their price objective on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Needham & Company LLC restated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Wedbush raised Upstart from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $10.00 to $45.00 in a research note on Monday. JPMorgan Chase & Co. increased their target price on shares of Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Finally, Mizuho boosted their price objective on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.50.

Upstart Price Performance

The company has a market cap of $4.65 billion, a price-to-earnings ratio of -25.68 and a beta of 2.01. The company’s 50-day simple moving average is $39.52 and its 200-day simple moving average is $29.87.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.22. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The business had revenue of $127.63 million during the quarter, compared to analyst estimates of $124.55 million. During the same period last year, the business earned ($0.34) EPS. The business’s revenue was down 6.0% on a year-over-year basis. Equities analysts predict that Upstart Holdings, Inc. will post -2.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $48.68, for a total transaction of $73,020.00. Following the completion of the sale, the chief financial officer now owns 337,093 shares in the company, valued at $16,409,687.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Sanjay Datta sold 1,500 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $48.68, for a total value of $73,020.00. Following the sale, the chief financial officer now directly owns 337,093 shares of the company’s stock, valued at $16,409,687.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dave Girouard sold 3,361 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total transaction of $128,894.35. Following the transaction, the chief executive officer now directly owns 61,512 shares of the company’s stock, valued at approximately $2,358,985.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 312,959 shares of company stock worth $13,641,350. 18.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Anfield Capital Management LLC bought a new stake in shares of Upstart in the 2nd quarter valued at approximately $33,000. Benjamin F. Edwards & Company Inc. increased its stake in Upstart by 80.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after purchasing an additional 778 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Upstart by 259.0% during the second quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after purchasing an additional 1,590 shares during the period. Comerica Bank boosted its holdings in shares of Upstart by 144.0% in the 1st quarter. Comerica Bank now owns 2,313 shares of the company’s stock valued at $62,000 after buying an additional 1,365 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of Upstart by 18.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock valued at $63,000 after buying an additional 409 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

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.