Upstart (NASDAQ:UPST) Stock Rating Upgraded by Piper Sandler

Upstart (NASDAQ:UPST) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Friday, Marketbeat.com reports. The firm presently has a $85.00 target price on the stock, up from their previous target price of $31.00. Piper Sandler’s price target would suggest a potential upside of 4.94% from the company’s current price.

A number of other equities analysts have also commented on the stock. Wedbush upgraded shares of Upstart from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $10.00 to $45.00 in a report on Monday, October 14th. Citigroup upgraded shares of Upstart from a “sell” rating to a “neutral” rating and upped their price target for the company from $15.00 to $33.00 in a research report on Wednesday, August 7th. Barclays increased their price target on shares of Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. raised their price target on shares of Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Upstart has an average rating of “Hold” and an average target price of $46.83.

Upstart Stock Performance

Shares of UPST opened at $81.00 on Friday. The stock has a fifty day moving average of $44.58 and a two-hundred day moving average of $33.47. The company has a market capitalization of $7.25 billion, a PE ratio of -34.62 and a beta of 1.97. Upstart has a fifty-two week low of $19.84 and a fifty-two week high of $82.25.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 1,264 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total transaction of $48,487.04. Following the sale, the insider now directly owns 24,557 shares of the company’s stock, valued at $942,006.52. 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 is available through this link. In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 334,093 shares in the company, valued at approximately $17,272,608.10. 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. Also, insider Natalia Mirgorodskaya sold 1,264 shares of Upstart 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 sale, the insider now owns 24,557 shares of the company’s stock, valued at $942,006.52. The trade was 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 valued at $13,724,175 in the last three months. 18.06% of the stock is currently owned by insiders.

Institutional Trading of Upstart

Large investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Upstart by 63.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after buying an additional 282,481 shares during the period. Millennium Management LLC boosted its position in Upstart by 1,792.9% during the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after purchasing an additional 277,896 shares in the last quarter. International Assets Investment Management LLC boosted its position in Upstart by 4,087.8% during the third quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock worth $9,333,000 after purchasing an additional 227,688 shares in the last quarter. Seven Eight Capital LP lifted its position in shares of Upstart by 349.1% in the first quarter. Seven Eight Capital LP now owns 189,385 shares of the company’s stock valued at $5,093,000 after acquiring an additional 147,213 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Upstart by 442.1% in the second quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock valued at $3,496,000 after purchasing an additional 120,871 shares during the last quarter. 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.