Upstart Holdings, Inc. (NASDAQ:UPST – Get Rating) shares rose 3.9% on Wednesday . The stock traded as high as $23.92 and last traded at $23.92. Approximately 40,907 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 6,096,643 shares. The stock had previously closed at $23.03.

Wall Street Analyst Weigh In

UPST has been the subject of several recent analyst reports. Barclays raised their target price on shares of Upstart from $25.00 to $37.00 and gave the company an "equal weight" rating in a research note on Monday, August 15th. Atlantic Securities downgraded shares of Upstart from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $32.00 to $22.00 in a research note on Thursday, August 11th. Stephens lowered their target price on shares of Upstart from $28.00 to $23.00 and set an "underweight" rating for the company in a research note on Tuesday, August 9th. Bank of America lowered their target price on shares of Upstart from $41.00 to $34.00 and set a "neutral" rating for the company in a research note on Friday, July 8th. Finally, Morgan Stanley downgraded shares of Upstart from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $88.00 to $19.00 in a research note on Wednesday, June 29th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $88.38.

Upstart Stock Up 6.8 %

The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 27.58 and a beta of 1.05. The business's 50-day moving average is $27.16 and its 200-day moving average is $54.02.

Insider Buying and Selling at Upstart

In other Upstart news, General Counsel Alison Nicoll sold 15,000 shares of Upstart stock in a transaction on Friday, June 24th. The shares were sold at an average price of $40.31, for a total value of $604,650.00. Following the completion of the transaction, the general counsel now owns 412,983 shares of the company's stock, valued at $16,647,344.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 16,364 shares of company stock valued at $646,123. Corporate insiders own 18.87% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UPST. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Upstart by 23.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,450 shares of the company's stock worth $376,000 after purchasing an additional 655 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of Upstart during the fourth quarter worth about $516,000. Intersect Capital LLC increased its stake in shares of Upstart by 36.2% during the first quarter. Intersect Capital LLC now owns 1,880 shares of the company's stock worth $205,000 after purchasing an additional 500 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Upstart by 7,328.6% during the first quarter. Nordea Investment Management AB now owns 121,161 shares of the company's stock worth $13,891,000 after purchasing an additional 119,530 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Upstart during the first quarter worth about $228,000. Hedge funds and other institutional investors own 44.80% of the company's stock.

Upstart Company Profile

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Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank partners. The company was founded in 2012 and is headquartered in San Mateo, California.

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