Upstart (NASDAQ:UPST) Upgraded at Needham & Company LLC

Needham & Company LLC upgraded shares of Upstart (NASDAQ:UPST) from a hold rating to a buy rating in a research note released on Friday, MarketBeat Ratings reports. Needham & Company LLC currently has $100.00 price objective on the stock.

A number of other equities analysts have also recently commented on UPST. Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $31.00 to $85.00 in a research report on Friday, November 8th. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $87.00 in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. downgraded Upstart from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $45.00 to $57.00 in a research report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $61.80.

Upstart Stock Performance

NASDAQ UPST opened at $84.46 on Friday. The stock has a 50 day moving average price of $62.68 and a 200-day moving average price of $42.29. Upstart has a one year low of $20.60 and a one year high of $88.95. The company has a market capitalization of $7.71 billion, a P/E ratio of -43.76 and a beta of 2.19.

Insiders Place Their Bets

In other news, CTO Paul Gu sold 4,019 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $75.00, for a total transaction of $301,425.00. Following the transaction, the chief technology officer now directly owns 863,065 shares of the company’s stock, valued at approximately $64,729,875. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott Darling sold 6,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $39.67, for a total value of $245,954.00. Following the completion of the sale, the insider now owns 161,043 shares of the company’s stock, valued at $6,388,575.81. The trade was a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 533,368 shares of company stock worth $32,813,134 over the last quarter. Company insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Upstart by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock worth $72,702,000 after acquiring an additional 29,482 shares during the period. Fred Alger Management LLC lifted its position in shares of Upstart by 153.2% in the 3rd 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 period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Upstart by 63.8% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Upstart by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 642,876 shares of the company’s stock valued at $25,721,000 after buying an additional 32,052 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Upstart by 689.5% in the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after buying an additional 514,400 shares in the last quarter. 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.