Upstart (NASDAQ:UPST) Upgraded by Redburn Atlantic to “Buy” Rating

Redburn Atlantic upgraded shares of Upstart (NASDAQ:UPST) from a neutral rating to a buy rating in a report issued on Tuesday, Marketbeat Ratings reports. Redburn Atlantic currently has $95.00 price objective on the stock, up from their prior price objective of $37.00.

A number of other analysts have also recently issued reports on UPST. Wedbush lifted 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. Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and lifted their price target for the company from $56.00 to $87.00 in a research report on Friday, November 8th. Barclays lifted their price target on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Needham & Company LLC reissued a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Finally, Piper Sandler raised shares of Upstart from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $31.00 to $85.00 in a research report 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $57.56.

Upstart Stock Up 8.0 %

NASDAQ UPST opened at $72.78 on Tuesday. The stock has a market capitalization of $6.64 billion, a PE ratio of -37.71 and a beta of 2.19. The company has a 50 day moving average price of $56.03 and a two-hundred day moving average price of $38.97. Upstart has a 12-month low of $20.60 and a 12-month high of $86.07.

Insider Activity at Upstart

In other news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $79.54, for a total value of $119,310.00. Following the completion of the transaction, the chief financial officer now owns 331,093 shares in the company, valued at approximately $26,335,137.22. This represents a 0.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chief Legal Officer Scott Darling sold 7,190 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $39.15, for a total transaction of $281,464.77. Following the completion of the transaction, the insider now owns 176,870 shares of the company’s stock, valued at approximately $6,923,876.83. This represents a 3.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 451,439 shares of company stock worth $26,781,220 in the last ninety days. 18.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Upstart

Several large investors have recently made changes to their positions in UPST. Price T Rowe Associates Inc. MD grew its holdings 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 purchasing an additional 2,770 shares during the last quarter. Comerica Bank grew its holdings in shares of Upstart by 144.0% in the 1st quarter. Comerica Bank now owns 2,313 shares of the company’s stock worth $62,000 after purchasing an additional 1,365 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Upstart by 66.6% in the 1st quarter. Cetera Advisors LLC now owns 17,258 shares of the company’s stock worth $464,000 after purchasing an additional 6,899 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 last quarter. Finally, Capital Advantage Inc. grew its holdings in shares of Upstart by 15.2% in the 2nd quarter. Capital Advantage Inc. now owns 14,246 shares of the company’s stock worth $331,000 after purchasing an additional 1,881 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

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.