Swiss National Bank Raises Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Swiss National Bank lifted its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,900 shares of the company’s stock after acquiring an additional 1,400 shares during the quarter. Swiss National Bank owned 0.16% of Upstart worth $5,837,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of UPST. Millennium Management LLC increased its position in shares of Upstart by 1,792.9% during the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after acquiring an additional 277,896 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Upstart by 4,087.8% during the third quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock valued at $9,333,000 after acquiring an additional 227,688 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Upstart by 442.1% during the second quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock valued at $3,496,000 after acquiring an additional 120,871 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Upstart by 1.6% during the first quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock valued at $191,698,000 after acquiring an additional 115,057 shares during the last quarter. Finally, Liontrust Investment Partners LLP increased its position in shares of Upstart by 26.1% during the second quarter. Liontrust Investment Partners LLP now owns 290,000 shares of the company’s stock valued at $6,841,000 after acquiring an additional 60,000 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UPST has been the subject of a number of research analyst reports. Citigroup raised 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 research report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Piper Sandler raised Upstart from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $31.00 to $85.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $30.00 to $45.00 in a research report on Friday, November 8th. Finally, Barclays raised their target price on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Upstart presently has a consensus rating of “Hold” and a consensus target price of $46.83.

Insider Transactions at Upstart

In related news, CTO Paul Gu sold 58,786 shares of Upstart stock in a transaction on Monday, November 25th. The stock was sold at an average price of $75.93, for a total transaction of $4,463,620.98. Following the completion of the sale, the chief technology officer now owns 863,065 shares of the company’s stock, valued at approximately $65,532,525.45. This trade represents a 6.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalia Mirgorodskaya sold 1,411 shares of Upstart stock in a transaction on Monday, November 25th. The shares were sold at an average price of $77.36, for a total value of $109,154.96. Following the sale, the insider now directly owns 18,596 shares of the company’s stock, valued at $1,438,586.56. This represents a 7.05 % decrease in their position. 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. Company insiders own 18.06% of the company’s stock.

Upstart Price Performance

Upstart stock opened at $78.43 on Thursday. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $86.07. The business has a fifty day moving average price of $53.91 and a 200-day moving average price of $37.90. The firm has a market capitalization of $7.16 billion, a P/E ratio of -40.64 and a beta of 1.97.

Upstart 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.