Upstart (NASDAQ:UPST) Upgraded at Citigroup

Citigroup upgraded shares of Upstart (NASDAQ:UPST) from a neutral rating to a buy rating in a research report released on Friday, MarketBeat.com reports. They currently have $87.00 target price on the stock, up from their prior target price of $56.00.

A number of other analysts have also weighed in on the company. Barclays upped their target price on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. Wedbush upgraded shares of Upstart from an “underperform” rating to a “neutral” rating and raised their price target for the company from $10.00 to $45.00 in a report on Monday, October 14th. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $30.00 to $45.00 in a research note on Friday. Finally, Mizuho upped their price target on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.83.

Upstart Stock Performance

NASDAQ:UPST opened at $81.00 on Friday. The firm has a 50-day simple moving average of $44.58 and a 200-day simple moving average of $33.55. Upstart has a one year low of $19.84 and a one year high of $82.25. The firm has a market cap of $7.25 billion, a P/E ratio of -41.97 and a beta of 1.97.

Insider Transactions at Upstart

In other Upstart news, insider Scott Darling sold 84,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $50.02, for a total value of $4,201,680.00. Following the sale, the insider now directly owns 152,043 shares of the company’s stock, valued at approximately $7,605,190.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Scott Darling sold 84,000 shares of Upstart stock in a transaction on Monday, October 14th. The shares were sold at an average price of $50.02, for a total value of $4,201,680.00. Following the sale, the insider now owns 152,043 shares of the company’s stock, valued at approximately $7,605,190.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Paul Gu sold 45,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $40.86, for a total transaction of $1,838,700.00. Following the transaction, the chief technology officer now owns 878,565 shares of the company’s stock, valued at $35,898,165.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 312,959 shares of company stock worth $13,724,175 over the last 90 days. 18.06% of the stock is currently owned by company insiders.

Institutional Trading of Upstart

Several large investors have recently bought and sold shares of UPST. Private Advisor Group LLC grew its position in shares of Upstart by 13.6% in the first quarter. Private Advisor Group LLC now owns 17,936 shares of the company’s stock valued at $482,000 after purchasing an additional 2,149 shares in the last quarter. Quantbot Technologies LP purchased a new position in Upstart during the first quarter worth approximately $658,000. Swiss National Bank boosted its stake in Upstart by 1.6% during the first quarter. Swiss National Bank now owns 142,700 shares of the company’s stock worth $3,837,000 after buying an additional 2,200 shares during the last quarter. TCI Wealth Advisors Inc. grew its holdings in Upstart by 18.0% in the 1st quarter. TCI Wealth Advisors Inc. now owns 39,971 shares of the company’s stock valued at $1,075,000 after buying an additional 6,088 shares in the last quarter. Finally, Inspire Advisors LLC increased its stake in shares of Upstart by 5.8% in the 1st quarter. Inspire Advisors LLC now owns 16,143 shares of the company’s stock worth $434,000 after acquiring an additional 890 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.