Upstart (NASDAQ:UPST) Price Target Raised to $75.00

Upstart (NASDAQ:UPST) had its price objective increased by Wedbush from $60.00 to $75.00 in a research report sent to investors on Monday. Wedbush currently has a neutral rating on the stock.

A number of other research firms have also recently issued reports on UPST. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and increased their price target for the stock from $56.00 to $87.00 in a report on Friday, November 8th. Mizuho raised their price target on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and raised their target price for the company from $31.00 to $85.00 in a research note on Friday, November 8th. Finally, BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Upstart presently has a consensus rating of “Hold” and an average target price of $49.83.

Upstart Trading Down 14.5 %

Shares of UPST opened at $67.39 on Monday. The firm’s fifty day simple moving average is $55.46 and its two-hundred day simple moving average is $38.68. Upstart has a 12 month low of $20.60 and a 12 month high of $86.07. The stock has a market capitalization of $6.15 billion, a P/E ratio of -34.93 and a beta of 1.97.

Insider Buying and Selling at Upstart

In other Upstart news, CTO Paul Gu sold 58,786 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $75.93, for a total transaction of $4,463,620.98. Following the transaction, the chief technology officer now directly owns 863,065 shares in the company, valued at approximately $65,532,525.45. This trade represents a 6.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalia Mirgorodskaya sold 1,411 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $77.36, for a total transaction of $109,154.96. Following the completion of the sale, the insider now owns 18,596 shares of the company’s stock, valued at approximately $1,438,586.56. The trade was a 7.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 451,439 shares of company stock worth $26,781,220. Insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

Several hedge funds have recently modified their holdings of UPST. Geode Capital Management LLC grew its holdings in shares of Upstart by 1.6% in the third 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. Fred Alger Management LLC boosted its position in Upstart by 153.2% in the third quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after purchasing an additional 754,416 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Upstart by 63.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after purchasing an additional 282,481 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Upstart by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 642,876 shares of the company’s stock valued at $25,721,000 after purchasing an additional 32,052 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Upstart by 689.5% during the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after purchasing an additional 514,400 shares during the period. Institutional investors own 63.01% of the company’s stock.

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.