Upstart (NASDAQ:UPST) Stock Price Down 6.2% – What’s Next?

Upstart Holdings, Inc. (NASDAQ:UPST)’s share price dropped 6.2% during trading on Friday . The company traded as low as $67.25 and last traded at $67.54. Approximately 1,961,987 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 6,823,418 shares. The stock had previously closed at $72.03.

Wall Street Analyst Weigh In

Several analysts have issued reports on UPST shares. Wedbush boosted their target price on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lowered Upstart from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $45.00 to $57.00 in a research report on Monday, December 2nd. Needham & Company LLC upgraded Upstart from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Friday, December 13th. Finally, Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and raised their price target for the stock from $37.00 to $95.00 in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.80.

Upstart Stock Down 5.6 %

The company’s 50-day simple moving average is $67.43 and its 200 day simple moving average is $45.48. The company has a market capitalization of $6.20 billion, a P/E ratio of -35.22 and a beta of 2.19.

Insider Buying and Selling

In other news, CTO Paul Gu sold 4,019 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $75.00, for a total value of $301,425.00. Following the completion of the sale, the chief technology officer now directly owns 863,065 shares in the company, valued at approximately $64,729,875. The trade was a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerry Whorton Cooper sold 500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $74.59, for a total transaction of $37,295.00. Following the sale, the director now directly owns 17,961 shares of the company’s stock, valued at approximately $1,339,710.99. This represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 531,868 shares of company stock worth $32,753,134. Corporate insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Upstart in the third quarter valued at about $35,000. BNP Paribas bought a new position in Upstart in the 3rd quarter worth approximately $37,000. Blue Trust Inc. lifted its holdings in shares of Upstart by 125.3% during the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after buying an additional 550 shares during the last quarter. Hollencrest Capital Management bought a new stake in shares of Upstart in the third quarter valued at approximately $40,000. Finally, Indiana Trust & Investment Management Co acquired a new stake in shares of Upstart in the third quarter worth $43,000. 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.