Upstart Holdings, Inc. (NASDAQ:UPST) Given Consensus Rating of “Hold” by Analysts

Upstart Holdings, Inc. (NASDAQ:UPST) has been assigned an average rating of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $61.80.

Several research firms recently issued reports on UPST. JPMorgan Chase & Co. lowered shares of Upstart from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $45.00 to $57.00 in a report on Monday, December 2nd. Wedbush upped their target price on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $31.00 to $85.00 in a report on Friday, November 8th. Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and increased their price target for the stock from $37.00 to $95.00 in a report on Tuesday, December 3rd. Finally, Mizuho lifted their price objective on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, September 20th.

Insider Buying and Selling

In other Upstart news, CTO Paul Gu sold 4,019 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $75.00, for a total transaction of $301,425.00. Following the transaction, the chief technology officer now directly owns 863,065 shares in the company, valued at $64,729,875. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott Darling sold 1,300 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $40.01, for a total transaction of $52,013.00. Following the completion of the transaction, the insider now owns 161,043 shares in the company, valued at $6,443,330.43. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 489,468 shares of company stock valued at $31,087,416. Company insiders own 18.06% of the company’s stock.

Institutional Investors Weigh In On Upstart

Several hedge funds have recently made changes to their positions in UPST. Fred Alger Management LLC lifted its position in Upstart by 153.2% during the third quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock valued at $49,886,000 after buying an additional 754,416 shares during the period. Two Sigma Advisers LP lifted its position 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 acquiring an additional 514,400 shares during the period. Tidal Investments LLC boosted its stake in Upstart by 1,413.7% during the third quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock worth $13,342,000 after acquiring an additional 311,434 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Upstart by 63.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after purchasing an additional 282,481 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Upstart by 1,792.9% during the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after purchasing an additional 277,896 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

Upstart Stock Down 6.9 %

Shares of UPST stock opened at $63.32 on Tuesday. The firm has a market capitalization of $5.78 billion, a P/E ratio of -32.81 and a beta of 2.19. Upstart has a twelve month low of $20.60 and a twelve month high of $88.95. The stock’s fifty day simple moving average is $67.43 and its 200 day simple moving average is $45.62.

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.