Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Upstart Holdings Inc shares valued at $1,578,672 were sold by Gu Paul on Apr 01 ’24. At $26.31 per share, Gu Paul sold 60,000 shares. The insider’s holdings dropped to 893,596 shares worth approximately $22.12 million following the completion of this transaction.
Also, Datta Sanjay sold 1,000 shares, netting a total of over 27,500 in proceeds. Following the sale of shares at $27.50 each, the insider now holds 400,536 shares.
Before that, Datta Sanjay had sold 1,000 shares from its account. In a trade valued at $26,210, the Chief Financial Officer traded Upstart Holdings Inc shares for $26.21 each. Upon closing the transaction, the insider’s holdings decreased to 1,000 shares, worth approximately $9.94 million.
As published in their initiating research note from BofA Securities on April 04, 2024, Upstart Holdings Inc [UPST] has been an Underperform and the price target has been revised to $22. Analysts at Needham started covering the stock with ‘”a Hold”‘ outlook in a report released in late September. As of July 27, 2023, B. Riley Securities has initiated its “Neutral” rating for UPST. Earlier on June 14, 2023, BTIG Research initiated its rating. Their recommendation was “a Buy” for UPST stock.
Analyzing UPST Stock Performance
During the last five days, there has been a drop of approximately -1.39%. Over the course of the year, Upstart Holdings Inc shares have dropped approximately -39.43%. Shares of the company reached a 52-week high of $40.82 on 01/02/24 and a 52-week low of $22.81 on 03/14/24. A 50-day SMA is recorded $27.12, while a 200-day SMA reached $33.11. Nevertheless, trading volume fell to 3.07 million shares from 3.4 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 24.10, which, if violated, would cause prices to drop to 23.45. In the upper region, resistance lies at 25.16. The next price resistance is at 25.56. RSI (Relative Strength Index) is 44.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.76, which suggests the price will decrease in the coming days. Percent R is at 81.48%, indicating bearish price movement. Stochastics %K at holding 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 Mar 15, 2024 jumping by 0.75 million shares to 27.13 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 26.38 million shares. A jump of 2.76% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.6 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.6.
