Upstart (NASDAQ:UPST) Raised to Neutral at Bank of America

Upstart (NASDAQ:UPST - Get Free Report) was upgraded by research analysts at Bank of America from an "underperform" rating to a "neutral" rating in a report released on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a $53.00 price target on the stock. Bank of America's target price would indicate a potential upside of 10.19% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley raised Upstart from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $12.00 to $70.00 in a research report on Friday, February 14th. The Goldman Sachs Group increased their price objective on Upstart from $13.50 to $15.00 and gave the stock a "sell" rating in a research note on Wednesday, February 12th. B. Riley upgraded shares of Upstart from a "neutral" rating to a "buy" rating and upped their target price for the stock from $49.00 to $105.00 in a research report on Wednesday, February 12th. Citigroup increased their price objective on shares of Upstart from $87.00 to $108.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upgraded shares of Upstart from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $57.00 to $79.00 in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Upstart has an average rating of "Hold" and a consensus price target of $70.54.

Upstart Stock Performance

Shares of NASDAQ UPST opened at $48.10 on Tuesday. Upstart has a 1 year low of $20.60 and a 1 year high of $96.43. The stock has a fifty day moving average price of $49.73 and a two-hundred day moving average price of $60.63. The firm has a market cap of $4.57 billion, a P/E ratio of -32.94 and a beta of 2.39.

Upstart (NASDAQ:UPST - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. On average, research analysts predict that Upstart will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Upstart

In other Upstart news, CEO Dave Girouard sold 4,524 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.01, for a total transaction of $357,441.24. Following the completion of the sale, the chief executive officer now directly owns 52,614 shares in the company, valued at approximately $4,157,032.14. This trade represents a 7.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sanjay Datta sold 16,070 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the sale, the chief financial officer now owns 295,537 shares of the company's stock, valued at approximately $23,353,333.74. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,395 shares of company stock valued at $2,638,828 in the last quarter. Company insiders own 16.67% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in Upstart by 3.1% in the fourth quarter. Jones Financial Companies Lllp now owns 5,511 shares of the company's stock worth $339,000 after purchasing an additional 167 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Upstart by 24.2% during the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock worth $54,000 after purchasing an additional 172 shares during the last quarter. Bailard Inc. lifted its stake in shares of Upstart by 0.5% during the 4th quarter. Bailard Inc. now owns 38,759 shares of the company's stock worth $2,386,000 after purchasing an additional 212 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Upstart by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock worth $83,000 after purchasing an additional 224 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Upstart by 1.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 24,352 shares of the company's stock worth $1,121,000 after purchasing an additional 322 shares during the last quarter. Hedge funds and other 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.

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