Upstart (NASDAQ:UPST) Shares Gap Down – What’s Next?

Shares of Upstart Holdings, Inc. (NASDAQ:UPSTGet Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $77.48, but opened at $71.10. Upstart shares last traded at $71.23, with a volume of 4,138,166 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on UPST. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $30.00 to $45.00 in a report on Friday. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $56.00 to $87.00 in a report on Friday. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a report on Monday. Barclays lifted their price target on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Mizuho lifted their price target on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Upstart currently has a consensus rating of “Hold” and an average price target of $46.83.

Check Out Our Latest Stock Analysis on UPST

Upstart Stock Down 13.7 %

The company has a market capitalization of $5.98 billion, a PE ratio of -35.43 and a beta of 1.97. The company has a 50-day moving average price of $45.28 and a two-hundred day moving average price of $33.93.

Insider Activity

In other Upstart news, CTO Paul Gu sold 10,000 shares of Upstart stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $40.01, for a total transaction of $400,100.00. Following the completion of the sale, the chief technology officer now owns 894,629 shares of the company’s stock, valued at $35,794,106.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CTO Paul Gu sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $40.01, for a total value of $400,100.00. Following the completion of the sale, the chief technology officer now owns 894,629 shares of the company’s stock, valued at approximately $35,794,106.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Natalia Mirgorodskaya sold 1,264 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total value of $48,487.04. Following the completion of the sale, the insider now directly owns 24,557 shares of the company’s stock, valued at approximately $942,006.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 312,959 shares of company stock worth $13,724,175. 18.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of UPST. Anfield Capital Management LLC bought a new position in Upstart during the 2nd quarter valued at approximately $33,000. Blue Trust Inc. raised its position in Upstart by 125.3% during the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after purchasing an additional 550 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Upstart during the 3rd quarter worth approximately $40,000. Indiana Trust & Investment Management Co purchased a new position in shares of Upstart during the 3rd quarter worth approximately $43,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Upstart during the 3rd quarter worth approximately $47,000. Institutional investors own 63.01% of the company’s stock.

Upstart Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for Upstart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Upstart and related companies with MarketBeat.com's FREE daily email newsletter.