Upstart (NASDAQ:UPST) Sets New 12-Month High at $359.00

Upstart Holdings, Inc. (NASDAQ:UPST) reached a new 52-week high on Thursday . The stock traded as high as $359.00 and last traded at $359.00, with a volume of 64058 shares. The stock had previously closed at $344.89.

UPST has been the topic of several research analyst reports. Piper Sandler boosted their price target on shares of Upstart from $192.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, September 8th. Zacks Investment Research upgraded shares of Upstart from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a report on Thursday, October 7th. The Goldman Sachs Group initiated coverage on shares of Upstart in a report on Monday, July 12th. They set a “buy” rating and a $147.00 price target on the stock. Citigroup cut shares of Upstart from a “buy” rating to a “neutral” rating and set a $350.00 price target on the stock. in a report on Monday, September 20th. Finally, JMP Securities boosted their price target on shares of Upstart from $205.00 to $327.00 and gave the company a “market outperform” rating in a report on Friday, September 17th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $218.64.

The stock’s 50-day simple moving average is $255.59 and its two-hundred day simple moving average is $169.44.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, August 10th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.37. The firm had revenue of $193.95 million for the quarter, compared to analyst estimates of $157.75 million. Upstart’s revenue for the quarter was up 1017.7% on a year-over-year basis. As a group, equities research analysts anticipate that Upstart Holdings, Inc. will post 0.87 earnings per share for the current year.

In related news, SVP Paul Gu sold 155,000 shares of the company’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $201.88, for a total value of $31,291,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Alison Nicoll sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 22nd. The shares were sold at an average price of $321.65, for a total transaction of $7,237,125.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,111,464 shares of company stock valued at $449,147,257. Company insiders own 25.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of UPST. Alliancebernstein L.P. bought a new stake in Upstart in the first quarter valued at about $881,000. American International Group Inc. bought a new stake in Upstart during the first quarter worth about $25,000. BlackRock Inc. grew its stake in Upstart by 130.8% during the first quarter. BlackRock Inc. now owns 592,594 shares of the company’s stock worth $76,361,000 after buying an additional 335,850 shares during the last quarter. New York State Common Retirement Fund bought a new stake in Upstart during the first quarter worth about $2,049,000. Finally, JPMorgan Chase & Co. bought a new stake in Upstart during the first quarter worth about $2,446,000. 49.24% of the stock is currently owned by institutional investors and hedge funds.

About Upstart (NASDAQ:UPST)

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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