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.
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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