Apollon Wealth Management LLC Lowers Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

Apollon Wealth Management LLC cut its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 2.2% during the third quarter, HoldingsChannel reports. The fund owned 15,431 shares of the company’s stock after selling 347 shares during the quarter. Apollon Wealth Management LLC’s holdings in Upstart were worth $617,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Atomi Financial Group Inc. grew its stake in Upstart by 0.7% in the second quarter. Atomi Financial Group Inc. now owns 59,009 shares of the company’s stock valued at $1,392,000 after purchasing an additional 406 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Upstart by 18.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock worth $63,000 after buying an additional 409 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Upstart by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 10,405 shares of the company’s stock worth $245,000 after acquiring an additional 422 shares in the last quarter. Inspire Advisors LLC lifted its position in Upstart by 3.0% during the second quarter. Inspire Advisors LLC now owns 16,623 shares of the company’s stock valued at $392,000 after acquiring an additional 480 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Upstart by 125.3% in the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after purchasing an additional 550 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Upstart

In related news, insider Scott Darling sold 84,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $50.02, for a total transaction of $4,201,680.00. Following the sale, the insider now directly owns 152,043 shares of the company’s stock, valued at approximately $7,605,190.86. This represents a 35.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,264 shares of Upstart stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total transaction of $48,487.04. Following the completion of the transaction, the insider now directly owns 24,557 shares of the company’s stock, valued at $942,006.52. The trade was a 4.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 356,126 shares of company stock worth $16,558,090. Insiders own 18.06% of the company’s stock.

Upstart Price Performance

UPST stock opened at $68.36 on Friday. The company has a market capitalization of $6.24 billion, a P/E ratio of -35.42 and a beta of 1.97. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $86.07. The firm’s fifty day simple moving average is $47.85 and its 200-day simple moving average is $35.12.

Wall Street Analyst Weigh In

Several analysts have recently commented on UPST shares. Barclays increased their price objective on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $30.00 to $45.00 in a research report on Friday, November 8th. Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $56.00 to $87.00 in a research report on Friday, November 8th. Finally, Piper Sandler raised shares of Upstart from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $31.00 to $85.00 in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.83.

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.