Upstart Holdings, Inc. (NASDAQ:UPST) Receives Consensus Rating of “Hold” from Analysts

Upstart Holdings, Inc. (NASDAQ:UPST) has been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $61.80.

A number of equities analysts have issued reports on UPST shares. JPMorgan Chase & Co. downgraded shares of Upstart from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $45.00 to $57.00 in a research note on Monday, December 2nd. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and upped their target price for the company from $56.00 to $87.00 in a report on Friday, November 8th. Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and lifted their price target for the company from $37.00 to $95.00 in a report on Tuesday, December 3rd. Finally, Needham & Company LLC upgraded shares of Upstart from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Friday, December 13th.

Insiders Place Their Bets

In other news, CTO Paul Gu sold 4,019 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $75.00, for a total transaction of $301,425.00. Following the sale, the chief technology officer now directly owns 863,065 shares of the company’s stock, valued at $64,729,875. This represents a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kerry Whorton Cooper sold 500 shares of Upstart stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $74.59, for a total value of $37,295.00. Following the completion of the transaction, the director now owns 17,961 shares of the company’s stock, valued at approximately $1,339,710.99. This represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 479,368 shares of company stock valued at $30,682,523. 18.06% of the stock is owned by insiders.

Institutional Trading of Upstart

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Upstart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock worth $72,702,000 after purchasing an additional 29,482 shares during the last quarter. Fred Alger Management LLC raised its position in Upstart by 153.2% in the third quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock valued at $49,886,000 after purchasing an additional 754,416 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Upstart by 63.8% during the third 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. Charles Schwab Investment Management Inc. lifted its stake in Upstart by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 642,876 shares of the company’s stock worth $25,721,000 after acquiring an additional 32,052 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Upstart by 689.5% during the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after purchasing an additional 514,400 shares during the period. 63.01% of the stock is owned by institutional investors and hedge funds.

Upstart Trading Up 5.4 %

UPST opened at $64.08 on Tuesday. The stock has a market capitalization of $5.85 billion, a P/E ratio of -33.20 and a beta of 2.19. Upstart has a 12-month low of $20.60 and a 12-month high of $88.95. The stock has a 50-day moving average price of $68.53 and a 200-day moving average price of $46.85.

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.