Upstart (NASDAQ:UPST) Upgraded to “Neutral” at BTIG Research

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

Other analysts also recently issued reports about the company. Wedbush upped their price objective on Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $56.00 to $87.00 in a report on Friday. Mizuho boosted their target price on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and raised their price target for the company from $31.00 to $85.00 in a report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Upstart has an average rating of “Hold” and a consensus price target of $46.83.

Upstart Stock Performance

Shares of UPST stock opened at $77.48 on Monday. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of -40.15 and a beta of 1.97. Upstart has a one year low of $20.25 and a one year high of $86.07. The company has a 50 day moving average price of $45.28 and a 200 day moving average price of $33.93.

Insiders Place Their Bets

In other news, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $51.70, for a total transaction of $77,550.00. Following the sale, the chief financial officer now owns 334,093 shares in the company, valued at $17,272,608.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Natalia Mirgorodskaya sold 1,264 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total value of $48,487.04. Following the completion of the transaction, the insider now owns 24,557 shares of the company’s stock, valued at approximately $942,006.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $51.70, for a total value of $77,550.00. Following the sale, the chief financial officer now owns 334,093 shares in the company, valued at $17,272,608.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 312,959 shares of company stock worth $13,724,175 in the last 90 days. 18.06% of the stock is owned by company insiders.

Institutional Trading of Upstart

A number of hedge funds have recently made changes to their positions in the stock. Tyler Stone Wealth Management boosted its stake in Upstart by 94.1% during the 3rd quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock valued at $2,222,000 after acquiring an additional 26,917 shares during the last quarter. Magnetar Financial LLC grew its stake in Upstart by 1,106.7% in the first quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock worth $2,616,000 after purchasing an additional 89,219 shares in the last quarter. SteelPeak Wealth LLC bought a new stake in Upstart in the third quarter valued at about $828,000. LifePro Asset Management acquired a new stake in Upstart during the third quarter valued at approximately $2,008,000. Finally, EMC Capital Management lifted its holdings in Upstart by 217.5% during the 3rd quarter. EMC Capital Management now owns 20,000 shares of the company’s stock worth $800,000 after buying an additional 13,700 shares during the last quarter. Institutional investors and hedge funds 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.