GAMMA Investing LLC Purchases 224 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

GAMMA Investing LLC lifted its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 19.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,348 shares of the company’s stock after buying an additional 224 shares during the quarter. GAMMA Investing LLC’s holdings in Upstart were worth $83,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in Upstart during the 3rd quarter worth about $334,000. Tyler Stone Wealth Management lifted its position in shares of Upstart by 94.1% in the 3rd quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock worth $2,222,000 after purchasing an additional 26,917 shares during the period. Intech Investment Management LLC bought a new position in shares of Upstart during the third quarter valued at approximately $939,000. Quadrature Capital Ltd purchased a new position in Upstart during the third quarter valued at approximately $676,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Upstart by 63.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after buying an additional 282,481 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insiders Place Their Bets

In other news, insider Scott Darling sold 84,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $50.02, for a total value of $4,201,680.00. Following the sale, the insider now directly owns 152,043 shares of the company’s stock, valued at $7,605,190.86. This represents a 35.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Paul Gu sold 4,019 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $75.00, for a total transaction of $301,425.00. Following the transaction, the chief technology officer now directly owns 863,065 shares of the company’s stock, valued at approximately $64,729,875. This trade represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 457,868 shares of company stock valued at $29,720,588. Insiders own 18.06% of the company’s stock.

Upstart Stock Down 2.5 %

UPST stock opened at $57.74 on Friday. The stock has a market capitalization of $5.27 billion, a PE ratio of -29.92 and a beta of 2.26. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $88.95. The firm has a 50 day moving average of $69.52 and a 200 day moving average of $48.17.

Wall Street Analyst Weigh In

Several brokerages have issued reports on UPST. BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Needham & Company LLC raised Upstart from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Friday, December 13th. Wedbush boosted their target price on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and raised their price target for the company from $56.00 to $87.00 in a report on Friday, November 8th. Finally, Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $31.00 to $85.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.80.

Upstart Profile

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.