Upstart (NASDAQ:UPST) Upgraded at BTIG Research

BTIG Research upgraded shares of Upstart (NASDAQ:UPST) from a sell rating to a neutral rating in a report published on Monday, MarketBeat Ratings reports.

Several other research firms also recently issued reports on UPST. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and upped their price objective for the company from $56.00 to $87.00 in a research note on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Piper Sandler raised 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. Wedbush upped their price target on Upstart from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Barclays raised their price objective on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Upstart has an average rating of “Hold” and a consensus target price of $46.83.

Upstart Stock Down 0.6 %

Shares of UPST opened at $67.39 on Monday. The stock has a market cap of $6.15 billion, a PE ratio of -35.19 and a beta of 1.97. Upstart has a 12-month low of $20.60 and a 12-month high of $86.07. The business has a 50-day simple moving average of $46.54 and a two-hundred day simple moving average of $34.49.

Insiders Place Their Bets

In other news, Chief Legal Officer Scott Darling sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $45.00, for a total transaction of $405,000.00. Following the transaction, the insider now directly owns 164,870 shares of the company’s stock, valued at $7,419,150. This represents a 5.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction on Monday, November 11th. The shares were sold at an average price of $79.54, for a total transaction of $119,310.00. Following the completion of the sale, the chief financial officer now directly owns 331,093 shares of the company’s stock, valued at approximately $26,335,137.22. The trade was a 0.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 356,126 shares of company stock worth $16,558,090. Corporate insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Anfield Capital Management LLC acquired a new stake in shares of Upstart in the 2nd quarter worth about $33,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Upstart during the 3rd quarter worth approximately $35,000. BNP Paribas purchased a new stake in shares of Upstart in the third quarter worth approximately $37,000. Blue Trust Inc. lifted its holdings in shares of Upstart by 125.3% in the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after purchasing an additional 550 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new position in shares of Upstart during the third quarter valued at approximately $40,000. 63.01% of the stock is owned by institutional investors.

About Upstart

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.