Stephens lowered shares of Upstart (NASDAQ:UPST – Get Rating) from an equal weight rating to an underweight rating in a research report report published on Tuesday morning, Marketbeat reports. The brokerage currently has $28.00 price objective on the stock, down from their previous price objective of $124.00.
A number of other research analysts have also recently commented on UPST. Bank of America upgraded shares of Upstart from an underperform rating to a buy rating and set a $255.00 price target on the stock in a report on Thursday, February 17th. FBN Securities assumed coverage on shares of Upstart in a report on Tuesday, April 12th. They issued an outperform rating and a $150.00 price target on the stock. Citigroup cut shares of Upstart from a buy rating to a neutral rating and cut their price target for the stock from $180.00 to $50.00 in a report on Tuesday. Piper Sandler cut shares of Upstart from an overweight rating to a neutral rating and dropped their target price for the stock from $230.00 to $44.00 in a report on Tuesday. Finally, Barclays dropped their target price on shares of Upstart from $285.00 to $180.00 in a report on Thursday, February 17th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $114.00.
Shares of UPST opened at $38.13 on Tuesday. Upstart has a twelve month low of $25.43 and a twelve month high of $401.49. The company has a market cap of $3.23 billion, a P/E ratio of 23.25 and a beta of 1.14. The company’s fifty day simple moving average is $92.15 and its 200-day simple moving average is $140.66.
In other news, General Counsel Alison Nicoll sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $146.64, for a total value of $1,099,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dave Girouard sold 83,333 shares of the stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $108.39, for a total transaction of $9,032,463.87. Following the completion of the transaction, the chief executive officer now directly owns 87,114 shares of the company’s stock, valued at $9,442,286.46. The disclosure for this sale can be found here. Insiders sold a total of 207,708 shares of company stock worth $21,254,868 over the last 90 days. Company insiders own 18.87% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Moors & Cabot Inc. purchased a new position in shares of Upstart in the 3rd quarter valued at approximately $25,000. Outfitter Financial LLC purchased a new position in shares of Upstart in the 4th quarter valued at approximately $25,000. SJS Investment Consulting Inc. purchased a new position in shares of Upstart in the 1st quarter valued at approximately $25,000. Tyler Stone Wealth Management purchased a new position in shares of Upstart in the 4th quarter valued at approximately $26,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Upstart in the 4th quarter valued at approximately $26,000. 59.65% of the stock is owned by hedge funds and other institutional investors.
About Upstart (Get Rating)
Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform in the United States. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.
- Get a free copy of the StockNews.com research report on Upstart (UPST)
- The Three Most Upgraded Stocks You Can Buy Now
- MarketBeat: Week in Review 5/9 – 5/13
- Is Electronic Arts (NASDAQ: EA) Suddenly A Safe Haven?
- Beyond Meat Stock Value is Improving
- The Travel Sector Is Getting Upgraded
Receive News & Ratings for Upstart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Upstart and related companies with MarketBeat.com's FREE daily email newsletter.