Upstart (NASDAQ:UPST) Raised to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Upstart (NASDAQ:UPST) from an underweight rating to a neutral rating in a research note published on Friday, MarketBeat reports. They currently have $45.00 price target on the stock, up from their prior price target of $30.00.

Several other brokerages have also recently issued reports on UPST. Piper Sandler raised Upstart from a “neutral” rating to an “overweight” rating and increased their target price for the company from $31.00 to $85.00 in a research report on Friday. Wedbush upgraded Upstart from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $10.00 to $45.00 in a research note on Monday, October 14th. Barclays increased their price target on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Mizuho lifted their price objective on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Citigroup raised shares of Upstart from a “sell” rating to a “neutral” rating and increased their target price for the company from $15.00 to $33.00 in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.83.

Upstart Stock Down 4.3 %

Shares of NASDAQ UPST opened at $77.48 on Friday. Upstart has a twelve month low of $20.25 and a twelve month high of $86.07. The firm has a market cap of $6.94 billion, a PE ratio of -40.15 and a beta of 1.97. The business has a fifty day simple moving average of $45.28 and a two-hundred day simple moving average of $33.93.

Insiders Place Their Bets

In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $51.70, for a total transaction of $77,550.00. Following the transaction, the chief financial officer now directly owns 334,093 shares of the company’s stock, valued at approximately $17,272,608.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $51.70, for a total value of $77,550.00. Following the completion of the sale, the chief financial officer now owns 334,093 shares in the company, valued at $17,272,608.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dave Girouard sold 3,361 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the transaction, the chief executive officer now directly owns 61,512 shares of the company’s stock, valued at approximately $2,358,985.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 312,959 shares of company stock valued at $13,724,175 over the last quarter. Company insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

Several hedge funds and other institutional investors have recently made changes to their positions in UPST. Private Advisor Group LLC lifted its position in shares of Upstart by 13.6% during the 1st quarter. Private Advisor Group LLC now owns 17,936 shares of the company’s stock valued at $482,000 after acquiring an additional 2,149 shares during the period. Quantbot Technologies LP purchased a new stake in Upstart during the first quarter worth $658,000. Swiss National Bank grew its holdings in Upstart by 1.6% in the first quarter. Swiss National Bank now owns 142,700 shares of the company’s stock valued at $3,837,000 after purchasing an additional 2,200 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in shares of Upstart by 18.0% in the first quarter. TCI Wealth Advisors Inc. now owns 39,971 shares of the company’s stock valued at $1,075,000 after buying an additional 6,088 shares in the last quarter. Finally, Inspire Advisors LLC boosted its position in shares of Upstart by 5.8% in the 1st quarter. Inspire Advisors LLC now owns 16,143 shares of the company’s stock worth $434,000 after buying an additional 890 shares in the last quarter. Institutional investors and hedge funds 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.