Upstart (NASDAQ:UPST) Downgraded to Underweight Rating by JPMorgan Chase & Co.

Upstart (NASDAQ:UPST) was downgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Monday, Marketbeat reports. They currently have a $57.00 price objective on the stock, up from their prior price objective of $45.00. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 21.68% from the stock’s current price.

A number of other research analysts also recently commented on UPST. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $31.00 to $85.00 in a research note on Friday, November 8th. Barclays raised their target price on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $56.00 to $87.00 in a research report on Friday, November 8th. Finally, BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $57.56.

Upstart Price Performance

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

Insider Buying and Selling at Upstart

In related news, Chief Legal Officer Scott Darling sold 7,190 shares of Upstart stock in a transaction on Friday, September 6th. The stock was sold at an average price of $39.15, for a total transaction of $281,464.77. Following the completion of the sale, the insider now directly owns 176,870 shares of the company’s stock, valued at $6,923,876.83. The trade was a 3.91 % 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 41,667 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $65.15, for a total value of $2,714,605.05. Following the completion of the transaction, the chief executive officer now directly owns 61,512 shares of the company’s stock, valued at approximately $4,007,506.80. The trade was a 40.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 451,439 shares of company stock worth $26,781,220. 18.06% of the stock is currently owned by insiders.

Institutional Trading of Upstart

A number of institutional investors have recently modified their holdings of UPST. Tidal Investments LLC raised its holdings in Upstart by 1,413.7% during the third quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock worth $13,342,000 after acquiring an additional 311,434 shares in the last quarter. Synergy Financial Group LTD acquired a new position in shares of Upstart in the third quarter valued at approximately $258,000. Orion Capital Management LLC grew its position in shares of Upstart by 5.1% in the third quarter. Orion Capital Management LLC now owns 5,560 shares of the company’s stock valued at $222,000 after purchasing an additional 270 shares during the last quarter. Geode Capital Management LLC grew its position in Upstart by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock worth $72,702,000 after buying an additional 29,482 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Upstart during the third quarter worth approximately $430,000. 63.01% of the stock is currently 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.