Upstart (NASDAQ:UPST) Stock Price Up 6.5% – What’s Next?

Upstart Holdings, Inc. (NASDAQ:UPST)’s share price traded up 6.5% on Monday . The stock traded as high as $72.77 and last traded at $73.30. 1,471,899 shares were traded during trading, a decline of 62% from the average session volume of 3,881,076 shares. The stock had previously closed at $68.85.

Analysts Set New Price Targets

UPST has been the topic of several recent research reports. JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $57.00 to $79.00 in a research note on Wednesday. Wedbush upped their target price on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and lifted their target price for the company from $56.00 to $87.00 in a report on Friday, November 8th. Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and upped their price target for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Finally, Bank of America lifted their price objective on Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $71.82.

Upstart Stock Performance

The stock has a market capitalization of $6.14 billion, a PE ratio of -34.89 and a beta of 2.25. The business has a 50 day moving average of $67.49 and a two-hundred day moving average of $54.38.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. On average, equities analysts expect that Upstart Holdings, Inc. will post -2.18 EPS for the current fiscal year.

Insider Transactions at Upstart

In related news, CEO Dave Girouard sold 41,667 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total value of $2,608,354.20. Following the completion of the sale, the chief executive officer now owns 57,138 shares of the company’s stock, valued at approximately $3,576,838.80. This represents a 42.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kerry Whorton Cooper sold 500 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $74.59, for a total value of $37,295.00. Following the sale, the director now directly owns 17,961 shares of the company’s stock, valued at approximately $1,339,710.99. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 347,868 shares of company stock valued at $24,056,862 in the last ninety days. 18.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Upstart

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new stake in Upstart in the third quarter valued at approximately $334,000. Tyler Stone Wealth Management lifted its position in Upstart by 94.1% in the third quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock valued at $2,222,000 after purchasing an additional 26,917 shares during the period. Intech Investment Management LLC purchased a new position in shares of Upstart during the 3rd quarter worth approximately $939,000. Quadrature Capital Ltd acquired a new stake in Upstart in the third quarter valued at $676,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Upstart by 63.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after acquiring an additional 282,481 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

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.