Point72 Hong Kong Ltd Purchases Shares of 2,559 Upstart Holdings, Inc. (NASDAQ:UPST)

Point72 Hong Kong Ltd acquired a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,559 shares of the company’s stock, valued at approximately $102,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in Upstart by 7.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,350 shares of the company’s stock worth $1,139,000 after purchasing an additional 2,770 shares in the last quarter. Comerica Bank lifted its position in shares of Upstart by 144.0% during the 1st quarter. Comerica Bank now owns 2,313 shares of the company’s stock worth $62,000 after buying an additional 1,365 shares during the period. Cetera Advisors LLC boosted its stake in Upstart by 66.6% in the 1st quarter. Cetera Advisors LLC now owns 17,258 shares of the company’s stock valued at $464,000 after buying an additional 6,899 shares in the last quarter. GAMMA Investing LLC grew its position in Upstart by 259.0% in the second 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 period. Finally, Capital Advantage Inc. raised its stake in Upstart by 15.2% during the second quarter. Capital Advantage Inc. now owns 14,246 shares of the company’s stock worth $331,000 after acquiring an additional 1,881 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on UPST shares. JPMorgan Chase & Co. downgraded shares of Upstart from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $45.00 to $57.00 in a research note on Monday. Piper Sandler raised shares of Upstart from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $31.00 to $85.00 in a report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Mizuho raised their price target on Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Upstart has an average rating of “Hold” and an average price target of $57.56.

Upstart Stock Up 8.0 %

Upstart stock opened at $72.78 on Wednesday. The business’s 50-day simple moving average is $56.03 and its 200 day simple moving average is $38.97. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of -37.71 and a beta of 2.19. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $86.07.

Insider Activity

In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $34.42, for a total value of $51,630.00. Following the transaction, the chief financial officer now directly owns 343,093 shares of the company’s stock, valued at approximately $11,809,261.06. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $65.15, for a total transaction of $2,714,605.05. Following the sale, the chief executive officer now owns 61,512 shares of the company’s stock, valued at $4,007,506.80. The trade was a 40.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 451,439 shares of company stock valued at $26,781,220. 18.06% of the stock is currently owned by insiders.

Upstart Company 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.