Upstart (NASDAQ:UPST) Stock Price Up 4.9% on Analyst Upgrade

Upstart Holdings, Inc. (NASDAQ:UPST)’s stock price rose 4.9% on Tuesday after Redburn Atlantic upgraded the stock from a neutral rating to a buy rating. Redburn Atlantic now has a $95.00 price target on the stock, up from their previous price target of $37.00. Upstart traded as high as $71.90 and last traded at $70.69. Approximately 2,541,008 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 6,874,937 shares. The stock had previously closed at $67.39.

A number of other analysts have also recently weighed in on the stock. BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Wedbush raised 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. Mizuho raised 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. Barclays raised their target price on shares of Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $31.00 to $85.00 in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $57.56.

Insider Activity at Upstart

In related news, insider Scott Darling sold 6,200 shares of Upstart stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $39.67, for a total value of $245,954.00. Following the transaction, the insider now directly owns 161,043 shares in the company, valued at $6,388,575.81. This trade represents a 3.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Natalia Mirgorodskaya sold 1,511 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $69.85, for a total transaction of $105,543.35. Following the sale, the insider now owns 20,007 shares in the company, valued at $1,397,488.95. The trade was a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 539,539 shares of company stock worth $32,897,079 in the last three months. Insiders own 18.06% of the company’s stock.

Institutional Investors Weigh In On Upstart

Several institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC boosted its position in shares of Upstart by 1,413.7% during the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock worth $13,342,000 after purchasing an additional 311,434 shares in the last quarter. Synergy Financial Group LTD purchased a new stake in shares of Upstart during the 3rd quarter worth $258,000. Orion Capital Management LLC boosted its position in shares of Upstart by 5.1% during the 3rd quarter. Orion Capital Management LLC now owns 5,560 shares of the company’s stock worth $222,000 after purchasing an additional 270 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Upstart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock worth $72,702,000 after purchasing an additional 29,482 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Upstart during the 3rd quarter worth $430,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Trading Up 2.5 %

The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -38.67 and a beta of 2.19. The firm has a 50 day moving average price of $56.74 and a 200-day moving average price of $39.31.

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.