Upstart Holdings, Inc. (NASDAQ:UPST) Receives $26.78 Average Price Target from Brokerages

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) have received a consensus recommendation of “Reduce” from the eleven brokerages that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $26.78.

A number of brokerages have recently commented on UPST. JPMorgan Chase & Co. lowered their price objective on Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Piper Sandler reaffirmed a “neutral” rating and issued a $28.00 price target on shares of Upstart in a report on Tuesday, March 19th. Mizuho lowered their price target on Upstart from $23.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, May 9th. Bank of America started coverage on Upstart in a report on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price target for the company. Finally, Wedbush reaffirmed an “underperform” rating and issued a $10.00 price target on shares of Upstart in a report on Wednesday, May 8th.

Insider Transactions at Upstart

In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $27.50, for a total value of $27,500.00. Following the completion of the transaction, the chief financial officer now owns 400,536 shares in the company, valued at $11,014,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $27.50, for a total value of $27,500.00. Following the completion of the transaction, the chief financial officer now owns 400,536 shares in the company, valued at $11,014,740. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Natalia Mirgorodskaya sold 1,919 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $24.30, for a total value of $46,631.70. Following the completion of the transaction, the insider now owns 28,246 shares of the company’s stock, valued at approximately $686,377.80. The disclosure for this sale can be found here. Insiders sold 182,873 shares of company stock worth $5,037,259 over the last 90 days. 18.06% of the stock is currently owned by insiders.

Institutional Trading of Upstart

A number of hedge funds have recently added to or reduced their stakes in UPST. Vanguard Group Inc. raised its holdings in shares of Upstart by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock worth $191,698,000 after purchasing an additional 115,057 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Upstart by 0.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,018,354 shares of the company’s stock worth $41,610,000 after purchasing an additional 5,875 shares during the last quarter. Northern Trust Corp increased its holdings in Upstart by 1.1% during the 3rd quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock worth $20,513,000 after purchasing an additional 8,091 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Upstart by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 573,176 shares of the company’s stock worth $23,420,000 after purchasing an additional 17,463 shares during the last quarter. Finally, Fred Alger Management LLC increased its holdings in Upstart by 121.9% during the 3rd quarter. Fred Alger Management LLC now owns 508,050 shares of the company’s stock worth $14,500,000 after purchasing an additional 279,110 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Upstart Stock Performance

Shares of Upstart stock opened at $24.33 on Monday. Upstart has a one year low of $19.84 and a one year high of $72.58. The company has a market cap of $2.14 billion, a PE ratio of -11.81 and a beta of 2.01. The business has a 50-day simple moving average of $24.75 and a 200-day simple moving average of $29.25.

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.