Upstart (NASDAQ:UPST) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Upstart (NASDAQ:UPST) from a neutral rating to an overweight rating in a research report sent to investors on Friday morning, Marketbeat reports. The brokerage currently has $85.00 target price on the stock, up from their previous target price of $31.00.

Other equities research analysts have also issued research reports about the company. Barclays increased their target price on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Mizuho boosted their target price 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Wedbush upgraded shares of Upstart from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $10.00 to $45.00 in a report on Monday, October 14th. Finally, Citigroup upgraded Upstart from a “sell” rating to a “neutral” rating and raised their target price for the company from $15.00 to $33.00 in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Upstart presently has a consensus rating of “Hold” and an average target price of $46.83.

Upstart Stock Down 4.3 %

UPST opened at $77.48 on Friday. Upstart has a 52-week low of $20.25 and a 52-week high of $86.07. The company has a 50 day moving average of $45.28 and a two-hundred day moving average of $33.93. The company has a market cap of $6.94 billion, a P/E ratio of -40.15 and a beta of 1.97.

Insider Transactions at Upstart

In related news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $51.70, for a total transaction of $77,550.00. Following the sale, the chief financial officer now owns 334,093 shares in the company, valued at $17,272,608.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chief Legal Officer Scott Darling sold 9,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $45.00, for a total value of $405,000.00. Following the completion of the transaction, the insider now owns 164,870 shares of the company’s stock, valued at approximately $7,419,150. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $77,550.00. Following the transaction, the chief financial officer now directly owns 334,093 shares in the company, valued at approximately $17,272,608.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 312,959 shares of company stock worth $13,724,175. 18.06% of the stock is currently owned by insiders.

Institutional Trading of Upstart

Several institutional investors have recently modified their holdings of UPST. Landscape Capital Management L.L.C. acquired a new stake in Upstart in the 3rd quarter valued at about $687,000. Intech Investment Management LLC purchased a new stake in Upstart during the third quarter valued at about $939,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Upstart by 63.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after buying an additional 282,481 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Upstart during the third quarter valued at approximately $47,000. Finally, Pathstone Holdings LLC lifted its position in shares of Upstart by 0.3% in the 3rd quarter. Pathstone Holdings LLC now owns 396,408 shares of the company’s stock valued at $15,860,000 after acquiring an additional 1,119 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.