Upstart (NASDAQ:UPST) Trading 7.9% Higher – Time to Buy?

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

Analyst Upgrades and Downgrades

UPST has been the subject of several research analyst reports. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and raised their price objective for the company from $56.00 to $87.00 in a research note on Friday, November 8th. Mizuho increased their target price on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and increased their price target for the company from $31.00 to $85.00 in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. upgraded 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, November 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.83.

Upstart Trading Down 1.0 %

The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of -36.84 and a beta of 1.97. The stock has a 50-day simple moving average of $49.26 and a 200-day simple moving average of $35.86.

Insider Buying and Selling at Upstart

In other Upstart news, insider Natalia Mirgorodskaya sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $41.03, for a total transaction of $205,150.00. Following the sale, the insider now directly owns 22,477 shares in the company, valued at approximately $922,231.31. The trade was a 18.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sanjay Datta sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $79.54, for a total value of $119,310.00. Following the completion of the sale, the chief financial officer now owns 331,093 shares of the company’s stock, valued at $26,335,137.22. This trade represents a 0.45 % decrease in their ownership of the stock. 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. 18.06% of the stock is owned by insiders.

Institutional Trading of Upstart

A number of hedge funds have recently bought and sold shares of the company. Anfield Capital Management LLC purchased a new stake in Upstart in the 2nd quarter worth about $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Upstart in the 3rd quarter valued at approximately $35,000. BNP Paribas purchased a new stake in Upstart in the 3rd quarter worth approximately $37,000. Blue Trust Inc. grew its holdings in shares of Upstart by 125.3% during the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after acquiring an additional 550 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new position in shares of Upstart in the third quarter worth $40,000. 63.01% of the stock is owned by hedge funds and other 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 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.