Wedbush Boosts Upstart (NASDAQ:UPST) Price Target to $75.00

Upstart (NASDAQ:UPST) had its price target lifted by equities researchers at Wedbush from $60.00 to $75.00 in a report issued on Monday. The firm currently has a “neutral” rating on the stock. Wedbush’s price target would suggest a potential upside of 3.05% from the company’s previous close.

A number of other brokerages also recently issued reports on UPST. Mizuho increased their price target on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Piper Sandler upgraded shares of 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, November 8th. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and increased their target price for the company from $56.00 to $87.00 in a research report on Friday, November 8th. Barclays increased their target price 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Upstart has a consensus rating of “Hold” and a consensus price target of $57.56.

Upstart Trading Up 8.0 %

Shares of Upstart stock opened at $72.78 on Monday. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of -37.71 and a beta of 2.19. Upstart has a 12-month low of $20.60 and a 12-month high of $86.07. The firm’s 50 day simple moving average is $56.03 and its two-hundred day simple moving average is $38.97.

Insider Buying and Selling at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction that occurred on 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 owns 61,512 shares of the company’s stock, valued at approximately $4,007,506.80. This trade represents a 40.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott Darling sold 84,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $50.02, for a total transaction of $4,201,680.00. Following the completion of the transaction, the insider now directly owns 152,043 shares of the company’s stock, valued at approximately $7,605,190.86. The trade was a 35.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 451,439 shares of company stock worth $26,781,220 over the last three months. Insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new position in Upstart in the third quarter worth approximately $334,000. Tyler Stone Wealth Management increased its stake in Upstart by 94.1% in the 3rd quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock valued at $2,222,000 after buying an additional 26,917 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Upstart during the 3rd quarter worth $939,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Upstart by 63.8% in the 3rd 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 in the last quarter. Finally, Fred Alger Management LLC boosted 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 buying an additional 754,416 shares in the last quarter. Hedge funds and other 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.