Upstart (NASDAQ:UPST) Raised to “Buy” at Redburn Atlantic

Upstart (NASDAQ:UPST) was upgraded by equities research analysts at Redburn Atlantic from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat.com reports. The firm presently has a $95.00 price objective on the stock, up from their prior price objective of $37.00. Redburn Atlantic’s price objective would indicate a potential upside of 27.29% from the company’s current price.

A number of other brokerages have also recently issued reports on UPST. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $56.00 to $87.00 in a report on Friday, November 8th. Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $31.00 to $85.00 in a report on Friday, November 8th. Mizuho upped their price objective on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Finally, Wedbush upped their price objective on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.56.

Upstart Trading Up 2.5 %

Shares of NASDAQ:UPST opened at $74.63 on Tuesday. The stock has a market capitalization of $6.81 billion, a PE ratio of -38.67 and a beta of 2.19. Upstart has a 1 year low of $20.60 and a 1 year high of $86.07. The firm has a fifty day moving average price of $56.74 and a 200 day moving average price of $39.31.

Insider Activity

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 transaction of $2,714,605.05. Following the completion of the sale, 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 filing with the SEC, which is accessible through this link. Also, CTO Paul Gu sold 87,600 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $69.39, for a total transaction of $6,078,564.00. Following the sale, the chief technology officer now directly owns 863,065 shares of the company’s stock, valued at approximately $59,888,080.35. The trade was a 9.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 539,539 shares of company stock valued at $32,897,079. Insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

Several hedge funds have recently modified their holdings of the stock. Orion Capital Management LLC grew its stake in shares of Upstart by 5.1% during 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. Atomi Financial Group Inc. grew its stake in shares of Upstart by 0.7% during the second quarter. Atomi Financial Group Inc. now owns 59,009 shares of the company’s stock valued at $1,392,000 after purchasing an additional 406 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Upstart by 18.2% during the second quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock valued at $63,000 after purchasing an additional 409 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Upstart by 4.2% during the second quarter. Principal Financial Group Inc. now owns 10,405 shares of the company’s stock valued at $245,000 after purchasing an additional 422 shares during the last quarter. Finally, Inspire Advisors LLC grew its stake in shares of Upstart by 3.0% during the second quarter. Inspire Advisors LLC now owns 16,623 shares of the company’s stock valued at $392,000 after purchasing an additional 480 shares during the last quarter. 63.01% of the stock is 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.