Upstart (NASDAQ:UPST) Trading 12.3% Higher

Upstart Holdings, Inc. (NASDAQ:UPST)’s stock price traded up 12.3% on Tuesday . The stock traded as high as $24.55 and last traded at $24.52. 5,155,726 shares were traded during trading, a decline of 35% from the average session volume of 7,872,299 shares. The stock had previously closed at $21.84.

Analyst Ratings Changes

Several analysts recently issued reports on UPST shares. Barclays increased their price target on Upstart from $17.00 to $31.00 and gave the company an “equal weight” rating in a report on Monday, August 14th. B. Riley reduced their price target on Upstart from $49.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, September 21st. Mizuho increased their price objective on shares of Upstart from $16.00 to $19.00 and gave the company an “underperform” rating in a research report on Monday, August 14th. JPMorgan Chase & Co. dropped their price objective on shares of Upstart from $28.00 to $26.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 8th. Finally, Wedbush restated an “underperform” rating and issued a $10.00 target price on shares of Upstart in a research note on Wednesday, November 8th. Five analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.09.

Upstart Price Performance

The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -8.47 and a beta of 2.09. The firm’s fifty day moving average is $26.91 and its 200-day moving average is $32.52.

Insider Transactions at Upstart

In related news, CFO Sanjay Datta sold 20,013 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $32.62, for a total value of $652,824.06. Following the completion of the sale, the chief financial officer now directly owns 399,764 shares of the company’s stock, valued at $13,040,301.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Upstart news, insider Natalia Mirgorodskaya sold 1,421 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $33.00, for a total value of $46,893.00. Following the transaction, the insider now owns 37,318 shares of the company’s stock, valued at $1,231,494. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sanjay Datta sold 20,013 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $32.62, for a total value of $652,824.06. Following the transaction, the chief financial officer now directly owns 399,764 shares of the company’s stock, valued at $13,040,301.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,263 shares of company stock valued at $3,373,042. Insiders own 18.45% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new stake in Upstart in the first quarter valued at $25,000. Geneos Wealth Management Inc. lifted its position in Upstart by 78.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 705 shares of the company’s stock valued at $25,000 after purchasing an additional 310 shares during the last quarter. IFP Advisors Inc lifted its position in Upstart by 4,153.3% in the 2nd quarter. IFP Advisors Inc now owns 638 shares of the company’s stock valued at $26,000 after purchasing an additional 623 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Upstart in the 2nd quarter worth about $26,000. Finally, Brown Brothers Harriman & Co. bought a new position in Upstart in the 2nd quarter worth about $30,000. 42.50% of the stock is currently owned by institutional investors.

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 aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank and credit union partners. The company was founded in 2012 and is headquartered in San Mateo, California.