By otakuyassine3@gmail.com 
Upstart Holdings, Inc. (NASDAQ:UPST – Get Free Report) was down 6.2% during trading on Friday . The stock traded as low as $67.25 and last traded at $67.54. Approximately 1,961,987 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 6,823,418 shares. The stock had previously closed at $72.03.
Analysts Set New Price Targets
A number of research firms have recently commented on UPST. Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and raised their price objective for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Needham & Company LLC upgraded Upstart from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Friday, December 13th. Mizuho boosted 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. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and raised their price target for the company from $56.00 to $87.00 in a report on Friday, November 8th. Finally, BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Upstart has a consensus rating of “Hold” and an average target price of $61.80.
View Our Latest Stock Analysis on UPST
Upstart Trading Down 5.8 %
The stock has a market capitalization of $6.19 billion, a P/E ratio of -35.17 and a beta of 2.19. The stock’s fifty day moving average price is $67.13 and its two-hundred day moving average price is $45.02.
Insiders Place Their Bets
In related news, insider Scott Darling sold 6,200 shares of Upstart stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $39.67, for a total value of $245,954.00. Following the transaction, the insider now directly owns 161,043 shares of the company’s stock, valued at $6,388,575.81. The trade was a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dave Girouard sold 41,667 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $65.15, for a total transaction of $2,714,605.05. Following the sale, the chief executive officer now directly owns 61,512 shares of the company’s stock, valued at $4,007,506.80. The trade was a 40.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 531,868 shares of company stock valued at $32,753,134 over the last three months. Insiders own 18.06% of the company’s stock.
Institutional Trading of Upstart
A number of hedge funds have recently modified their holdings of UPST. Orion Capital Management LLC increased its position in shares of Upstart by 5.1% during the third quarter. Orion Capital Management LLC now owns 5,560 shares of the company’s stock valued at $222,000 after acquiring an additional 270 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Upstart by 18.2% during the second quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock valued at $63,000 after purchasing an additional 409 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Upstart by 4.2% during 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 during the last quarter. Inspire Advisors LLC increased its holdings in Upstart by 3.0% in the 2nd quarter. Inspire Advisors LLC now owns 16,623 shares of the company’s stock worth $392,000 after buying an additional 480 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Upstart by 125.3% in the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after buying an additional 550 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.
Further Reading
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