Upstart (NASDAQ:UPST) Raised to Neutral at JPMorgan Chase & Co.

Upstart (NASDAQ:UPST) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued on Friday, MarketBeat reports. The firm presently has a $45.00 target price on the stock, up from their previous target price of $30.00. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 44.44% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Barclays lifted their price objective on shares of Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Mizuho upped their price target on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Wedbush upgraded shares of Upstart from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $10.00 to $45.00 in a research report on Monday, October 14th. Citigroup upgraded shares of Upstart from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $15.00 to $33.00 in a research report on Wednesday, August 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Upstart in a report on Thursday, August 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $46.83.

Upstart Trading Up 46.0 %

Upstart stock opened at $81.00 on Friday. The company has a fifty day simple moving average of $44.58 and a 200 day simple moving average of $33.47. Upstart has a 1-year low of $19.84 and a 1-year high of $82.25. The company has a market cap of $7.25 billion, a P/E ratio of -34.62 and a beta of 1.97.

Insider Activity at Upstart

In other Upstart news, Chief Legal Officer Scott Darling sold 9,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $45.00, for a total transaction of $405,000.00. Following the transaction, the insider now directly owns 164,870 shares of the company’s stock, valued at approximately $7,419,150. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chief Legal Officer Scott Darling sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $45.00, for a total value of $405,000.00. Following the transaction, the insider now owns 164,870 shares in the company, valued at $7,419,150. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sanjay Datta sold 1,500 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $53.81, for a total transaction of $80,715.00. Following the completion of the transaction, the chief financial officer now owns 335,593 shares in the company, valued at approximately $18,058,259.33. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 312,959 shares of company stock worth $13,724,175 in the last three months. 18.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Upstart

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Magnetar Financial LLC lifted its stake in shares of Upstart by 1,106.7% in the 1st quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock worth $2,616,000 after purchasing an additional 89,219 shares during the period. SteelPeak Wealth LLC bought a new stake in Upstart in the third quarter worth $828,000. LifePro Asset Management bought a new stake in Upstart in the third quarter worth $2,008,000. EMC Capital Management lifted its position in shares of Upstart by 217.5% during the third quarter. EMC Capital Management now owns 20,000 shares of the company’s stock worth $800,000 after purchasing an additional 13,700 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its position in shares of Upstart by 273.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 41,115 shares of the company’s stock worth $969,000 after purchasing an additional 30,115 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

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.