Intech Investment Management LLC Buys New Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

Intech Investment Management LLC bought a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) during the third quarter, Holdings Channel reports. The firm bought 23,468 shares of the company’s stock, valued at approximately $939,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Upstart by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock valued at $191,698,000 after buying an additional 115,057 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Upstart by 63.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after purchasing an additional 282,481 shares during the last quarter. Pathstone Holdings LLC grew its position in Upstart by 0.3% in 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 last quarter. Liontrust Investment Partners LLP grew its position in Upstart by 26.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 290,000 shares of the company’s stock worth $6,841,000 after purchasing an additional 60,000 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Upstart by 15.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 272,430 shares of the company’s stock worth $6,427,000 after purchasing an additional 36,206 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Upstart Stock Down 0.1 %

Shares of UPST stock opened at $78.43 on Friday. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $86.07. The company has a market capitalization of $7.16 billion, a P/E ratio of -40.64 and a beta of 1.97. The firm has a 50-day moving average price of $53.91 and a 200 day moving average price of $37.90.

Analysts Set New Price Targets

UPST has been the topic of several research analyst reports. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Mizuho raised their price target on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $30.00 to $45.00 in a report on Friday, November 8th. Wedbush raised their price objective on shares of Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. One 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. According to MarketBeat, Upstart has an average rating of “Hold” and an average price target of $46.83.

Insider Activity at Upstart

In other Upstart news, CTO Paul Gu sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $40.86, for a total value of $1,838,700.00. Following the completion of the sale, the chief technology officer now owns 878,565 shares in the company, valued at approximately $35,898,165.90. This trade represents a 4.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $41.77, for a total transaction of $62,655.00. Following the completion of the sale, the chief financial officer now owns 346,093 shares of the company’s stock, valued at $14,456,304.61. The trade was a 0.43 % 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 in the last ninety days. Insiders own 18.06% of the company’s stock.

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.