Upstart (NASDAQ:UPST) Stock Rating Upgraded by Redburn Atlantic

Redburn Atlantic upgraded shares of Upstart (NASDAQ:UPST) from a neutral rating to a buy rating in a research note published on Tuesday morning, MarketBeat reports. The brokerage currently has $95.00 target price on the stock, up from their previous target price of $37.00.

Other research analysts have also issued research reports about the stock. Wedbush raised their target price on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday. JPMorgan Chase & Co. lowered shares of Upstart from a “neutral” rating to an “underweight” rating and raised their target price for the company from $45.00 to $57.00 in a research note on Monday. Barclays raised their target price on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Mizuho raised their target price on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and raised their target price for the company from $56.00 to $87.00 in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $57.56.

Upstart Stock Up 8.0 %

Shares of NASDAQ:UPST opened at $72.78 on Tuesday. Upstart has a 12 month low of $20.60 and a 12 month high of $86.07. The company’s 50-day moving average price is $56.03 and its two-hundred day moving average price is $38.97. The firm has a market cap of $6.64 billion, a P/E ratio of -37.71 and a beta of 2.19.

Insider Activity at Upstart

In other Upstart news, insider Scott Darling sold 84,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $50.02, for a total transaction of $4,201,680.00. Following the sale, the insider now directly owns 152,043 shares in the company, valued at approximately $7,605,190.86. This trade represents a 35.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $65.15, for a total transaction of $2,714,605.05. Following the sale, the chief executive officer now owns 61,512 shares in the company, valued at $4,007,506.80. This trade represents a 40.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 451,439 shares of company stock worth $26,781,220 in the last ninety days. Company insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

Several hedge funds have recently made changes to their positions in UPST. Anfield Capital Management LLC bought a new position in shares of Upstart during the 2nd quarter worth approximately $33,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Upstart during the 3rd quarter worth approximately $35,000. BNP Paribas bought a new position in shares of Upstart during the 3rd quarter worth approximately $37,000. Blue Trust Inc. grew its stake in shares of Upstart by 125.3% during the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after acquiring an additional 550 shares in the last quarter. Finally, Hollencrest Capital Management bought a new position in shares of Upstart during the 3rd quarter worth approximately $40,000. 63.01% of the stock is owned by institutional investors.

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.