Upstart (NASDAQ:UPST) Upgraded at Redburn Atlantic

Redburn Atlantic upgraded shares of Upstart (NASDAQ:UPST) from a neutral rating to a buy rating in a research note released on Tuesday morning, MarketBeat.com reports. The firm currently has $95.00 target price on the stock, up from their prior target price of $37.00.

A number of other research analysts have also commented on the stock. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the company from $56.00 to $87.00 in a research report on Friday, November 8th. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. cut Upstart from a “neutral” rating to an “underweight” rating and raised their price target for the company from $45.00 to $57.00 in a report on Monday. Wedbush boosted their price objective on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Barclays raised their target price on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Upstart presently has an average rating of “Hold” and an average price target of $57.56.

Upstart Trading Down 1.6 %

Shares of NASDAQ:UPST opened at $73.41 on Tuesday. The company has a 50 day moving average of $57.44 and a 200 day moving average of $39.55. The stock has a market cap of $6.70 billion, a P/E ratio of -38.04 and a beta of 2.19. Upstart has a 12 month low of $20.60 and a 12 month high of $86.07.

Insiders Place Their Bets

In related news, Director Kerry Whorton Cooper sold 500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $74.59, for a total transaction of $37,295.00. Following the completion of the sale, the director now directly owns 17,961 shares in the company, valued at $1,339,710.99. This represents a 2.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $34.85, for a total value of $52,275.00. Following the completion of the transaction, the chief financial officer now directly owns 344,593 shares in the company, valued at $12,009,066.05. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 532,349 shares of company stock valued at $32,615,614. 18.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Upstart

Several institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its position in Upstart by 1,413.7% during the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock valued at $13,342,000 after purchasing an additional 311,434 shares during the last quarter. Synergy Financial Group LTD purchased a new position in shares of Upstart during the third quarter valued at approximately $258,000. Orion Capital Management LLC raised its holdings 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 acquiring an additional 270 shares in the last quarter. Geode Capital Management LLC lifted its stake in Upstart by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock worth $72,702,000 after acquiring an additional 29,482 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Upstart in the third quarter valued at $430,000. 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.