Upstart (NASDAQ:UPST) Downgraded by JPMorgan Chase & Co. to Underweight

Upstart (NASDAQ:UPST) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Monday,Finviz reports.

UPST has been the topic of a number of other reports. Wedbush upped their price target on Upstart from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Barclays raised their price target on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Mizuho boosted their price objective on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a 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. Finally, Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $31.00 to $85.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Upstart currently has an average rating of “Hold” and a consensus price target of $46.83.

Upstart Stock Down 5.0 %

Shares of UPST opened at $74.83 on Monday. The company has a market capitalization of $6.83 billion, a P/E ratio of -38.77 and a beta of 1.97. Upstart has a twelve month low of $20.60 and a twelve month high of $86.07. The firm has a 50 day moving average of $55.46 and a 200 day moving average of $38.68.

Insider Buying and Selling

In other news, insider Natalia Mirgorodskaya sold 1,411 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $77.36, for a total transaction of $109,154.96. Following the completion of the transaction, the insider now owns 18,596 shares in the company, valued at $1,438,586.56. This trade represents a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $34.42, for a total value of $51,630.00. Following the completion of the sale, the chief financial officer now owns 343,093 shares in the company, valued at $11,809,261.06. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 502,939 shares of company stock valued at $28,887,725. 18.06% of the stock is owned by company insiders.

Institutional Trading of Upstart

Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in Upstart by 1,413.7% during the third quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock valued at $13,342,000 after purchasing an additional 311,434 shares during the last quarter. Synergy Financial Group LTD bought a new stake in shares of Upstart in the 3rd quarter worth about $258,000. Orion Capital Management LLC raised its position in Upstart by 5.1% in the 3rd quarter. Orion Capital Management LLC now owns 5,560 shares of the company’s stock worth $222,000 after purchasing an additional 270 shares during the period. Geode Capital Management LLC lifted its stake 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 acquiring an additional 29,482 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Upstart during the third quarter valued at $430,000. 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.