Shares of Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $57.00, but opened at $62.08. Upstart shares last traded at $63.16, with a volume of 2,183,512 shares trading hands.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on UPST. Redburn Atlantic upgraded shares of Upstart from a "neutral" rating to a "buy" rating and increased their price target for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. lowered Upstart from a "neutral" rating to an "underweight" rating and boosted their target price for the company from $45.00 to $57.00 in a report on Monday, December 2nd. Mizuho increased their price target on Upstart from $33.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, September 20th. Piper Sandler raised shares of Upstart from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $31.00 to $85.00 in a research note on Friday, November 8th. Finally, Wedbush boosted their target price on Upstart from $60.00 to $75.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $61.80.
View Our Latest Stock Analysis on UPST
Upstart Trading Up 10.0 %
The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of -32.49 and a beta of 2.26. The company's 50 day simple moving average is $69.84 and its 200-day simple moving average is $48.81.
Insider Activity at Upstart
In other Upstart news, CEO Dave Girouard sold 41,667 shares of the company's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $65.15, for a total transaction of $2,714,605.05. Following the completion of the sale, the chief executive officer now directly owns 61,512 shares in the company, valued at $4,007,506.80. This represents a 40.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $79.54, for a total value of $119,310.00. Following the completion of the transaction, the chief financial officer now directly owns 331,093 shares in the company, valued at $26,335,137.22. This represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 352,368 shares of company stock worth $24,440,688. 18.06% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Merit Financial Group LLC acquired a new position in shares of Upstart during the fourth quarter worth $271,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Upstart during the fourth quarter worth approximately $219,000. Harbor Capital Advisors Inc. grew its position in shares of Upstart by 12.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 11,721 shares of the company's stock worth $722,000 after buying an additional 1,303 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Upstart in the fourth quarter valued at $313,000. Finally, GAMMA Investing LLC boosted its stake in Upstart by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $83,000 after acquiring an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.
About Upstart
(
Get Free Report)
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.
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