Upstart (NASDAQ:UPST) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Monday, Price Targets.com reports. They presently have a $350.00 target price on the stock. Citigroup’s target price would suggest a potential upside of 9.11% from the company’s current price.
A number of other equities research analysts also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Upstart in a research report on Monday, July 12th. They issued a “buy” rating and a $147.00 target price for the company. JMP Securities lifted their target price on shares of Upstart from $205.00 to $327.00 and gave the company a “market outperform” rating in a research note on Friday, September 17th. Atlantic Securities assumed coverage on shares of Upstart in a research note on Monday, September 6th. They set an “overweight” rating and a $290.00 target price on the stock. Barclays boosted their price target on shares of Upstart from $230.00 to $345.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Piper Sandler boosted their target price on shares of Upstart from $192.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, September 8th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $213.55.
Shares of UPST opened at $320.77 on Monday. Upstart has a fifty-two week low of $22.61 and a fifty-two week high of $329.47. The firm has a 50 day moving average price of $192.59 and a 200-day moving average price of $144.49.
In other news, General Counsel Alison Nicoll sold 22,500 shares of Upstart stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $270.88, for a total value of $6,094,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dave Girouard sold 125,000 shares of Upstart stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $225.43, for a total transaction of $28,178,750.00. The disclosure for this sale can be found here. Insiders sold a total of 2,053,966 shares of company stock valued at $431,274,500 in the last quarter. 25.20% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in UPST. Renaissance Technologies LLC purchased a new position in Upstart during the second quarter worth approximately $83,433,000. Kuvari Partners LLP acquired a new position in shares of Upstart in the second quarter worth about $81,164,000. Vulcan Value Partners LLC lifted its stake in shares of Upstart by 54.7% in the second quarter. Vulcan Value Partners LLC now owns 1,521,104 shares of the company’s stock worth $189,986,000 after acquiring an additional 538,016 shares in the last quarter. Vanguard Group Inc. raised its stake in Upstart by 49.0% during the second quarter. Vanguard Group Inc. now owns 1,424,490 shares of the company’s stock valued at $177,918,000 after buying an additional 468,613 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Upstart by 101.8% during the first quarter. Ameriprise Financial Inc. now owns 776,153 shares of the company’s stock valued at $99,994,000 after buying an additional 391,627 shares in the last quarter. 49.24% of the stock is currently owned by institutional investors and hedge funds.
Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform. 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.
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