Upstart (NASDAQ:UPST) Rating Increased to Buy at Redburn Atlantic

Redburn Atlantic upgraded shares of Upstart (NASDAQ:UPST) from a neutral rating to a buy rating in a research report released on Tuesday morning, MarketBeat reports. They currently have $95.00 price objective on the stock, up from their prior price objective of $37.00.

A number of other analysts have also recently commented on UPST. Needham & Company LLC restated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered shares of Upstart from a “neutral” rating to an “underweight” rating and boosted their price objective for the stock from $45.00 to $57.00 in a research note on Monday. Wedbush raised their target price on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday. Barclays upped their price target on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Finally, Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $31.00 to $85.00 in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Upstart presently has an average rating of “Hold” and a consensus target price of $57.56.

Upstart Stock Down 1.6 %

UPST opened at $73.41 on Tuesday. Upstart has a 52 week low of $20.60 and a 52 week high of $86.07. The stock has a market cap of $6.70 billion, a PE ratio of -38.04 and a beta of 2.19. The business has a 50 day moving average of $57.44 and a 200-day moving average of $39.55.

Insider Transactions at Upstart

In other news, insider Scott Darling sold 1,300 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $40.01, for a total transaction of $52,013.00. Following the sale, the insider now owns 161,043 shares of the company’s stock, valued at $6,443,330.43. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kerry Whorton Cooper sold 500 shares of Upstart stock in a transaction that occurred on 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 owns 17,961 shares of the company’s stock, valued at $1,339,710.99. This represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 532,349 shares of company stock worth $32,615,614 over the last quarter. 18.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Upstart

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Upstart by 7.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,350 shares of the company’s stock worth $1,139,000 after buying an additional 2,770 shares during the last quarter. Comerica Bank grew its stake in shares of Upstart by 144.0% during the 1st quarter. Comerica Bank now owns 2,313 shares of the company’s stock valued at $62,000 after purchasing an additional 1,365 shares during the period. Cetera Advisors LLC increased its position in shares of Upstart by 66.6% during the 1st quarter. Cetera Advisors LLC now owns 17,258 shares of the company’s stock valued at $464,000 after purchasing an additional 6,899 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Upstart by 259.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after purchasing an additional 1,590 shares during the period. Finally, Capital Advantage Inc. boosted its holdings in shares of Upstart by 15.2% in the second quarter. Capital Advantage Inc. now owns 14,246 shares of the company’s stock worth $331,000 after buying an additional 1,881 shares during the last quarter. 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.