Qsemble Capital Management LP Takes Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Qsemble Capital Management LP purchased a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 22,637 shares of the company’s stock, valued at approximately $906,000.

A number of other hedge funds also recently made changes to their positions in UPST. Vanguard Group Inc. increased its position in Upstart by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock worth $191,698,000 after purchasing an additional 115,057 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Upstart by 63.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after acquiring an additional 282,481 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 in the last quarter. Pathstone Holdings LLC boosted its position in Upstart by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 396,408 shares of the company’s stock worth $15,860,000 after purchasing an additional 1,119 shares during the period. Finally, Liontrust Investment Partners LLP increased its holdings in Upstart by 26.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 290,000 shares of the company’s stock valued at $6,841,000 after purchasing an additional 60,000 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

UPST has been the subject of several analyst reports. JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $30.00 to $45.00 in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their target price for the company from $56.00 to $87.00 in a research note on Friday, November 8th. Finally, Wedbush lifted their price target on shares of Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.83.

Insiders Place Their Bets

In related news, CTO Paul Gu sold 21,214 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $75.03, for a total transaction of $1,591,686.42. Following the sale, the chief technology officer now owns 863,065 shares in the company, valued at $64,755,766.95. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was 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 in the company, valued at $26,335,137.22. This represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 451,742 shares of company stock valued at $24,719,949 in the last quarter. Insiders own 18.06% of the company’s stock.

Upstart Trading Down 1.3 %

NASDAQ:UPST opened at $78.51 on Wednesday. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $86.07. The stock has a 50-day simple moving average of $53.10 and a 200 day simple moving average of $37.61.

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.