State of New Jersey Common Pension Fund D Takes Position in Upstart Holdings, Inc. (NASDAQ:UPST)

State of New Jersey Common Pension Fund D bought a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 45,969 shares of the company’s stock, valued at approximately $1,839,000. State of New Jersey Common Pension Fund D owned approximately 0.05% of Upstart at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UPST. Anfield Capital Management LLC purchased a new position in shares of Upstart during the second quarter valued at about $33,000. Blue Trust Inc. grew its holdings in Upstart by 125.3% during the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after buying an additional 550 shares in the last quarter. Hollencrest Capital Management bought a new stake in Upstart in the 3rd quarter worth approximately $40,000. Indiana Trust & Investment Management Co purchased a new stake in shares of Upstart during the 3rd quarter worth approximately $43,000. Finally, GAMMA Investing LLC boosted its position in shares of Upstart by 259.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock valued at $52,000 after acquiring an additional 1,590 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Upstart Stock Performance

Shares of NASDAQ UPST opened at $68.27 on Tuesday. The business’s 50 day moving average price is $48.51 and its 200-day moving average price is $35.52. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $86.07. The company has a market cap of $6.23 billion, a price-to-earnings ratio of -35.37 and a beta of 1.97.

Analyst Ratings Changes

Several equities research analysts recently weighed in on UPST shares. Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $31.00 to $85.00 in a research report on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and increased their price target for the company from $56.00 to $87.00 in a report on Friday, November 8th. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, Wedbush lifted their target price on Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.83.

Insiders Place Their Bets

In other news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $79.54, for a total transaction of $119,310.00. Following the transaction, the chief financial officer now directly owns 331,093 shares of the company’s stock, valued at approximately $26,335,137.22. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Natalia Mirgorodskaya sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $41.03, for a total value of $205,150.00. Following the completion of the sale, the insider now owns 22,477 shares of the company’s stock, valued at $922,231.31. The trade was a 18.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 299,937 shares of company stock worth $14,344,742 over the last quarter. Company insiders own 18.06% 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.