Fmr LLC Raises Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

Fmr LLC raised its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 36.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,735 shares of the company’s stock after acquiring an additional 1,792 shares during the period. Fmr LLC’s holdings in Upstart were worth $269,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP raised its position in Upstart by 416.3% in the 3rd quarter. Quantbot Technologies LP now owns 98,158 shares of the company’s stock worth $3,927,000 after purchasing an additional 79,146 shares during the period. West Tower Group LLC purchased a new position in shares of Upstart in the third quarter worth about $80,000. Qsemble Capital Management LP bought a new stake in shares of Upstart in the 3rd quarter valued at about $906,000. Algert Global LLC boosted its holdings in Upstart by 75.8% during the 3rd quarter. Algert Global LLC now owns 19,010 shares of the company’s stock valued at $761,000 after acquiring an additional 8,194 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Upstart by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 642,876 shares of the company’s stock valued at $25,721,000 after acquiring an additional 32,052 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $79.54, for a total transaction of $119,310.00. Following the completion of the transaction, the chief financial officer now directly owns 331,093 shares of the company’s stock, valued at $26,335,137.22. This trade represents a 0.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Paul Gu sold 87,600 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $69.39, for a total transaction of $6,078,564.00. Following the completion of the sale, the chief technology officer now owns 863,065 shares in the company, valued at approximately $59,888,080.35. This trade represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 533,368 shares of company stock worth $32,813,134. Company insiders own 18.06% of the company’s stock.

Upstart Price Performance

Shares of NASDAQ UPST opened at $68.40 on Friday. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $88.95. The stock has a market capitalization of $6.24 billion, a P/E ratio of -35.44 and a beta of 2.19. The company’s 50-day moving average is $65.86 and its 200 day moving average is $43.81.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on UPST shares. JPMorgan Chase & Co. downgraded Upstart from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $45.00 to $57.00 in a research report on Monday, December 2nd. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and raised their price target for the stock from $37.00 to $95.00 in a report on Tuesday, December 3rd. Wedbush upped their price objective on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Finally, Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $31.00 to $85.00 in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.80.

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.