Upstart (NASDAQ:UPST) Trading Down 4.2% – Should You Sell?

Upstart Holdings, Inc. (NASDAQ:UPST) shares dropped 4.2% during mid-day trading on Thursday . The stock traded as low as $68.67 and last traded at $70.21. Approximately 3,399,695 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 6,868,693 shares. The stock had previously closed at $73.32.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and raised their price objective for the company from $56.00 to $87.00 in a research note on Friday, November 8th. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $31.00 to $85.00 in a report on Friday, November 8th. Needham & Company LLC upgraded shares of Upstart from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Friday, December 13th. Finally, Mizuho raised their price objective on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.80.

Upstart Trading Up 1.7 %

The stock’s 50-day simple moving average is $65.86 and its 200-day simple moving average is $43.81. The firm has a market capitalization of $6.24 billion, a P/E ratio of -35.44 and a beta of 2.19.

Insider Buying and Selling

In other Upstart news, insider Scott Darling sold 6,200 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $39.67, for a total transaction of $245,954.00. Following the sale, the insider now owns 161,043 shares in the company, valued at $6,388,575.81. This represents a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Paul Gu sold 4,019 shares of Upstart 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 transaction, the chief technology officer now owns 863,065 shares of the company’s stock, valued at approximately $64,729,875. This trade represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 533,368 shares of company stock valued at $32,813,134. 18.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Upstart

Institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC increased its holdings in Upstart by 1,413.7% during the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock worth $13,342,000 after acquiring an additional 311,434 shares during the period. Synergy Financial Group LTD purchased a new stake in shares of Upstart in the third quarter worth $258,000. Orion Capital Management LLC increased its stake in Upstart by 5.1% in the 3rd quarter. Orion Capital Management LLC now owns 5,560 shares of the company’s stock worth $222,000 after acquiring an additional 270 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Upstart by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock valued at $72,702,000 after acquiring an additional 29,482 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Upstart during the 3rd quarter valued at about $430,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.