Upstart (NASDAQ:UPST) Given Market Perform Rating at JMP Securities

Upstart (NASDAQ:UPST)‘s stock had its “market perform” rating restated by stock analysts at JMP Securities in a research note issued to investors on Wednesday, Benzinga reports.

UPST has been the topic of several other research reports. Mizuho upped their price objective on shares of Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research note on Thursday, January 18th. JPMorgan Chase & Co. dropped their price target on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 14th. Piper Sandler restated a “neutral” rating and set a $28.00 price target on shares of Upstart in a research note on Tuesday, March 19th. Finally, Bank of America assumed coverage on shares of Upstart in a research note on Thursday, April 4th. They set an “underperform” rating and a $22.00 price target on the stock. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $26.00.

Upstart Price Performance

Upstart stock traded down $0.10 during trading hours on Wednesday, hitting $22.44. The company had a trading volume of 3,024,588 shares, compared to its average volume of 6,959,086. The firm has a market capitalization of $1.97 billion, a P/E ratio of -7.76 and a beta of 1.94. The firm’s fifty day moving average is $26.30 and its 200-day moving average is $29.67. Upstart has a fifty-two week low of $11.93 and a fifty-two week high of $72.58.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.05. The firm had revenue of $140.31 million for the quarter, compared to analyst estimates of $135.28 million. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. Analysts anticipate that Upstart will post -2.19 earnings per share for the current year.

Insider Activity at Upstart

In related news, insider Scott Darling sold 1,298 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $35.38, for a total value of $45,923.24. Following the transaction, the insider now directly owns 169,527 shares in the company, valued at approximately $5,997,865.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Paul Gu sold 60,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.31, for a total value of $1,578,600.00. Following the transaction, the chief technology officer now directly owns 893,596 shares in the company, valued at approximately $23,510,510.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Darling sold 1,298 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $35.38, for a total transaction of $45,923.24. Following the completion of the transaction, the insider now owns 169,527 shares in the company, valued at $5,997,865.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,777 shares of company stock worth $1,864,629. 18.06% of the stock is owned by insiders.

Institutional Trading of Upstart

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Upstart by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,856,199 shares of the company’s stock valued at $195,676,000 after purchasing an additional 87,832 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Upstart by 37.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,250 shares of the company’s stock valued at $2,262,000 after purchasing an additional 21,668 shares during the period. Northern Trust Corp boosted its holdings in Upstart by 1.1% in the 3rd quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock valued at $20,513,000 after purchasing an additional 8,091 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Upstart by 5.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 11,805 shares of the company’s stock valued at $482,000 after purchasing an additional 619 shares during the period. Finally, Trexquant Investment LP bought a new stake in Upstart in the 3rd quarter valued at $1,529,000. 63.01% of the stock is owned by institutional investors.

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.