Upstart Holdings, Inc. (NASDAQ:UPST) Receives Average Recommendation of “Hold” from Brokerages

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) have been given an average recommendation of “Hold” by the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $57.56.

A number of analysts recently commented on UPST shares. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and increased their price target for the company from $56.00 to $87.00 in a research report on Friday, November 8th. Wedbush raised their target price on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday. BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. downgraded Upstart from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $45.00 to $57.00 in a research report on Monday. Finally, 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.

Upstart Trading Down 1.6 %

Shares of UPST opened at $73.41 on Friday. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of -38.04 and a beta of 2.19. The stock has a 50 day moving average of $57.44 and a 200 day moving average of $39.55. Upstart has a 12 month low of $20.60 and a 12 month high of $86.07.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of UPST. Fred Alger Management LLC raised its position in Upstart by 153.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock valued at $49,886,000 after purchasing an additional 754,416 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Upstart by 689.5% during the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after purchasing an additional 514,400 shares during the last quarter. Tidal Investments LLC boosted its stake 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. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Upstart by 63.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after purchasing an additional 282,481 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Upstart by 1,792.9% in the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after buying an additional 277,896 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.