Upstart (NASDAQ:UPST) Trading Up 7.9% – Here’s Why

Upstart Holdings, Inc. (NASDAQ:UPST) traded up 7.9% during trading on Monday . The company traded as high as $73.94 and last traded at $73.77. 3,583,892 shares were traded during trading, a decline of 48% from the average session volume of 6,892,290 shares. The stock had previously closed at $68.36.

Analysts Set New Price Targets

Several research firms recently weighed in on UPST. Barclays boosted 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. Piper Sandler raised 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 research report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Mizuho upped their price target on Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $30.00 to $45.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $46.83.

Upstart Stock Performance

The company has a market cap of $6.42 billion, a P/E ratio of -36.84 and a beta of 1.97. The firm’s 50-day simple moving average is $49.26 and its 200 day simple moving average is $35.86.

Insider Activity at Upstart

In related news, CEO Dave Girouard sold 41,667 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $65.15, for a total transaction of $2,714,605.05. Following the completion of the sale, the chief executive officer now directly owns 61,512 shares of the company’s stock, valued at approximately $4,007,506.80. This represents a 40.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott Darling sold 84,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $50.02, for a total transaction of $4,201,680.00. Following the sale, the insider now directly owns 152,043 shares of the company’s stock, valued at $7,605,190.86. This represents a 35.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,104 shares of company stock worth $21,500,721 in the last ninety days. Company insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

Large investors have recently bought and sold shares of the company. Orion Capital Management LLC lifted its stake in Upstart by 5.1% in the 3rd quarter. Orion Capital Management LLC now owns 5,560 shares of the company’s stock valued at $222,000 after purchasing an additional 270 shares during the last quarter. Atomi Financial Group Inc. grew its stake in shares of Upstart by 0.7% in the second quarter. Atomi Financial Group Inc. now owns 59,009 shares of the company’s stock valued at $1,392,000 after acquiring an additional 406 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Upstart by 18.2% during the second quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock worth $63,000 after acquiring an additional 409 shares during the period. Principal Financial Group Inc. raised its position in shares of Upstart by 4.2% in the second quarter. Principal Financial Group Inc. now owns 10,405 shares of the company’s stock valued at $245,000 after buying an additional 422 shares in the last quarter. Finally, Inspire Advisors LLC boosted its stake in shares of Upstart by 3.0% in the second quarter. Inspire Advisors LLC now owns 16,623 shares of the company’s stock valued at $392,000 after buying an additional 480 shares during the period. 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.