Fred Alger Management LLC Purchases 754,416 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Fred Alger Management LLC boosted its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 153.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,246,839 shares of the company’s stock after acquiring an additional 754,416 shares during the period. Fred Alger Management LLC owned 1.37% of Upstart worth $49,886,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 acquiring an additional 115,057 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Upstart by 63.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after acquiring an additional 282,481 shares during the period. Charles Schwab Investment Management Inc. grew 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 buying an additional 32,052 shares in the last quarter. Pathstone Holdings LLC grew its holdings in Upstart by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 396,408 shares of the company’s stock valued at $15,860,000 after buying an additional 1,119 shares in the last quarter. Finally, Liontrust Investment Partners LLP grew its holdings in Upstart by 26.1% during the 2nd quarter. Liontrust Investment Partners LLP now owns 290,000 shares of the company’s stock valued at $6,841,000 after buying an additional 60,000 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Upstart Stock Down 0.1 %

NASDAQ UPST opened at $78.43 on Friday. The company has a fifty day moving average of $53.91 and a two-hundred day moving average of $37.90. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $86.07.

Analyst Ratings Changes

A number of brokerages have issued reports on UPST. Barclays increased their price objective on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Mizuho increased their price objective on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and increased their price objective for the company from $56.00 to $87.00 in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Finally, BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.83.

Insiders Place Their Bets

In other news, insider Natalia Mirgorodskaya sold 5,000 shares of Upstart stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $41.03, for a total transaction of $205,150.00. Following the completion of the sale, the insider now directly owns 22,477 shares in the company, valued at approximately $922,231.31. This trade represents a 18.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sanjay Datta sold 1,500 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $34.42, for a total transaction of $51,630.00. Following the completion of the transaction, the chief financial officer now owns 343,093 shares in the company, valued at approximately $11,809,261.06. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 502,939 shares of company stock valued at $28,887,725 over the last three months. 18.06% of the stock is owned by company insiders.

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.