Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Upstart Holdings Inc. shares valued at $48,448 were sold by Datta Sanjay on Mar 13. At $15.14 per share, Datta Sanjay sold 3,200 shares. The insider’s holdings dropped to 280,670 shares worth approximately $4.43 million following the completion of this transaction.
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Also, Datta Sanjay sold 3,200 shares, netting a total of over 61,344 in proceeds. Following the sale of shares at $19.17 each, the insider now holds 280,670 shares.
Before that, Datta Sanjay had sold 3,200 shares from its account. In a trade valued at $58,336, the Chief Financial Officer traded Upstart Holdings Inc. shares for $18.23 each. Upon closing the transaction, the insider’s holdings decreased to 3,200 shares, worth approximately $4.43 million.
As published in their initiating research note from Compass Point on March 07, 2023, Upstart Holdings Inc. [UPST] has been a Sell and the price target has been revised to $6. This represents a -163.33% premium over Thursday’s closing price. Analysts at Loop Capital upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid February. As of February 15, 2023, Citigroup has decreased its “Neutral” rating to a “Sell” for UPST. Earlier on February 03, 2023, Loop Capital downgraded its rating. Their new recommendation was “a Hold” for UPST stock which previously was a “a Buy”.
Analyzing UPST Stock Performance
On Thursday, Upstart Holdings Inc. [NASDAQ: UPST] rose 4.15% to $15.80. The stock’s lowest price that day was $14.52, but it reached a high of $15.81 in the same session. During the last five days, there has been a drop of approximately -2.59%. Over the course of the year, Upstart Holdings Inc. shares have jumped approximately 19.52%. Shares of the company reached a 52-week high of $26.35 on 02/02/23 and a 52-week low of $12.53 on 01/03/23. A 50-day SMA is recorded $17.50, while a 200-day SMA reached $23.49. Nevertheless, trading volume fell to 5.88 million shares from 6.25 million shares the previous day.
Support And Resistance Levels for Upstart Holdings Inc. (UPST)
According to the 24-hour chart, there is a support level at 14.94, which, if violated, would cause prices to drop to 14.09. In the upper region, resistance lies at 16.23. The next price resistance is at 16.67. RSI (Relative Strength Index) is 43.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.76, which suggests the price will decrease in the coming days. Percent R is at 69.73%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Upstart Holdings Inc. subject to short interest?
Stocks of Upstart Holdings Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 1.23 million shares to 28.09 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 26.86 million shares. A jump of 4.38% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.43 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.43.
Which companies own the most shares of Upstart Holdings Inc. (UPST)?
According to The Vanguard Group, Inc. filings, the company currently owns 6,298,437 shares, which is about 7.74% of the total UPST shares outstanding. The investor’s shares have appreciated by 384,436 from its previous 13-F filing of 5914001.0 shares. With the completion of the buy transaction, BofA Securities, Inc.’s stake is now worth $69,817,573. A total of 363,558 shares of Upstart Holdings Inc. were sold by BlackRock Fund Advisors during the quarter, and 237,304 were bought by Morgan Stanley & Co. LLC. In its current portfolio, SSgA Funds Management, Inc. holds 1,171,948 shares valued at $21.69 million.
In terms of Upstart Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $12.61 in the next 12 months, down nearly -24.19% from the previous closing price of $15.17. Analysts anticipate Upstart Holdings Inc. stock to reach $24.00 by 2023, with the lowest price target being $6.00. In spite of this, 15 analysts ranked Upstart Holdings Inc. stock as an Underweight at the end of 2023. On November 10, 2022, BofA Securities assigned a price target of “an Underperform” to the stock and downgraded coverage with a $15.