Upstart (NASDAQ:UPST) Receives “Neutral” Rating from BTIG Research

Upstart (NASDAQ:UPST)‘s stock had its “neutral” rating reissued by investment analysts at BTIG Research in a research report issued on Wednesday,Benzinga reports.

UPST has been the topic of several other research reports. Needham & Company LLC dropped their price objective on Upstart from $82.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Upstart in a research note on Wednesday, October 8th. Morgan Stanley reiterated an “equal weight” rating on shares of Upstart in a research note on Wednesday, August 6th. The Goldman Sachs Group dropped their target price on Upstart from $78.00 to $54.00 and set a “sell” rating on the stock in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. upgraded Upstart from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $93.00 to $88.00 in a research report on Wednesday, August 20th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.33.

Upstart Stock Performance

Shares of UPST opened at $46.24 on Wednesday. The stock has a 50 day moving average price of $57.61 and a two-hundred day moving average price of $60.05. The firm has a market capitalization of $4.45 billion, a P/E ratio of -578.00 and a beta of 2.26. Upstart has a 52 week low of $31.40 and a 52 week high of $96.43.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. Upstart had a negative return on equity of 5.95% and a negative net margin of 0.75%.The firm had revenue of $257.29 million for the quarter, compared to the consensus estimate of $225.35 million. During the same quarter in the previous year, the business earned ($0.17) EPS. The company’s revenue was up 101.6% compared to the same quarter last year. On average, equities analysts forecast that Upstart will post -0.03 earnings per share for the current year.

Insider Buying and Selling at Upstart

In other Upstart news, CFO Sanjay Datta sold 13,473 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $61.12, for a total transaction of $823,469.76. Following the completion of the sale, the chief financial officer directly owned 297,904 shares in the company, valued at $18,207,892.48. This represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,439 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $69.21, for a total value of $99,593.19. Following the completion of the sale, the insider directly owned 21,081 shares in the company, valued at $1,459,016.01. The trade was a 6.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 106,214 shares of company stock valued at $6,803,558. 16.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Upstart

Several institutional investors and hedge funds have recently made changes to their positions in the company. KADENSA CAPITAL Ltd purchased a new stake in shares of Upstart during the 1st quarter valued at about $18,972,000. Intech Investment Management LLC grew its holdings in Upstart by 70.8% during the 1st quarter. Intech Investment Management LLC now owns 74,134 shares of the company’s stock valued at $3,412,000 after purchasing an additional 30,739 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Upstart by 44.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 41,276 shares of the company’s stock valued at $2,670,000 after purchasing an additional 12,617 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Upstart by 753.9% during the 1st quarter. Advisors Asset Management Inc. now owns 12,980 shares of the company’s stock valued at $597,000 after purchasing an additional 11,460 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Upstart during the 1st quarter valued at about $550,000. 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.