Wedbush Raises Upstart (NASDAQ:UPST) Price Target to $60.00

Upstart (NASDAQ:UPST) had its price objective raised by Wedbush from $45.00 to $60.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts have also recently commented on UPST. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and raised their price objective for the company from $56.00 to $87.00 in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $30.00 to $45.00 in a report on Friday. Barclays raised their price objective on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $31.00 to $85.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Upstart presently has an average rating of “Hold” and an average price target 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 business’s 50 day moving average is $45.28 and its two-hundred day moving average is $33.93. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of -40.15 and a beta of 1.97.

Insider Buying and Selling at Upstart

In other news, CFO Sanjay Datta sold 1,500 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $34.42, for a total value of $51,630.00. Following the sale, the chief financial officer now owns 343,093 shares in the company, valued at approximately $11,809,261.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $34.42, for a total transaction of $51,630.00. Following the transaction, the chief financial officer now directly owns 343,093 shares in the company, valued at $11,809,261.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chief Legal Officer Scott Darling sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $45.00, for a total transaction of $405,000.00. Following the sale, the insider now directly owns 164,870 shares of the company’s stock, valued at approximately $7,419,150. This represents a 0.00 % decrease in their position. 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 in the last three months. Corporate insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of UPST. Vanguard Group Inc. raised its holdings in shares of Upstart by 1.6% during the first quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock valued at $191,698,000 after buying an additional 115,057 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Upstart by 63.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after acquiring an additional 282,481 shares during the period. Pathstone Holdings LLC grew its stake in shares of Upstart by 0.3% in the third quarter. Pathstone Holdings LLC now owns 396,408 shares of the company’s stock worth $15,860,000 after purchasing an additional 1,119 shares in the last quarter. Liontrust Investment Partners LLP increased its holdings in shares of Upstart by 26.1% during the second quarter. Liontrust Investment Partners LLP now owns 290,000 shares of the company’s stock valued at $6,841,000 after purchasing an additional 60,000 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Upstart by 15.3% during the second quarter. Bank of New York Mellon Corp now owns 272,430 shares of the company’s stock valued at $6,427,000 after purchasing an additional 36,206 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

About Upstart

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.