Upstart (NASDAQ:UPST) Trading 7.9% Higher – Here’s What Happened

18 Nov 2024, 17:42 by Teresa Graham · The Cerbat Gem

Upstart Holdings, Inc. (NASDAQ:UPST – Get Free Report)’s stock price rose 7.9% during mid-day trading on Monday . The stock traded as high as $73.94 and last traded at $73.77. Approximately 3,583,892 shares changed hands during trading, a decline of 48% from the average daily volume of 6,892,290 shares. The stock had previously closed at $68.36.

Analysts Set New Price Targets

UPST has been the topic of a number of research analyst reports. Wedbush increased their target price on Upstart from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and increased their price target for the company from $56.00 to $87.00 in a research report on Friday, November 8th. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Mizuho boosted their price target on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.83.

Check Out Our Latest Research Report on UPST

Upstart Stock Performance

The firm has a fifty day moving average price of $47.85 and a two-hundred day moving average price of $35.21. The stock has a market capitalization of $6.23 billion, a P/E ratio of -38.22 and a beta of 1.97.

Insider Activity

In other news, insider Natalia Mirgorodskaya sold 1,264 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total value of $48,487.04. Following the completion of the transaction, the insider now owns 24,557 shares of the company’s stock, valued at $942,006.52. This represents a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chief Legal Officer Scott Darling sold 9,000 shares of Upstart stock in a transaction that occurred 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 sale, the insider now owns 164,870 shares in the company, valued at approximately $7,419,150. The trade was a 5.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 320,626 shares of company stock valued at $15,142,490 in the last 90 days. Company insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UPST. Anfield Capital Management LLC bought a new stake in shares of Upstart in the 2nd quarter valued at about $33,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Upstart in the 3rd quarter worth $35,000. BNP Paribas purchased a new position in Upstart in the third quarter valued at about $37,000. Blue Trust Inc. raised its holdings in shares of Upstart by 125.3% in the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after buying an additional 550 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new stake in shares of Upstart during the third quarter valued at $40,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

About Upstart

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