Upstart Holdings, Inc. (NASDAQ:UPST) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,816,774 shares of the company’s stock after purchasing an additional 29,482 shares during the period. Geode Capital Management LLC’s holdings in Upstart were worth $72,702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Anfield Capital Management LLC bought a new stake in shares of Upstart in the second quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Upstart in the 3rd quarter worth about $35,000. BNP Paribas acquired a new stake in shares of Upstart in the 3rd quarter valued at about $37,000. Blue Trust Inc. lifted its position in shares of Upstart by 125.3% during 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. Finally, Hollencrest Capital Management acquired a new position in Upstart in the third quarter worth about $40,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Upstart

In other news, CFO Sanjay Datta sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $79.54, for a total transaction of $119,310.00. Following the completion of the transaction, the chief financial officer now directly owns 331,093 shares in the company, valued at approximately $26,335,137.22. The trade was a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Paul Gu sold 4,019 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $75.00, for a total value of $301,425.00. Following the completion of the transaction, the chief technology officer now directly owns 863,065 shares of the company’s stock, valued at $64,729,875. This trade represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 533,368 shares of company stock valued at $32,813,134 in the last ninety days. Company insiders own 18.06% of the company’s stock.

Upstart Stock Performance

Upstart stock opened at $68.40 on Friday. The firm has a market capitalization of $6.24 billion, a P/E ratio of -35.44 and a beta of 2.19. The company has a 50-day simple moving average of $65.86 and a 200-day simple moving average of $43.81. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $88.95.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lowered Upstart from a “neutral” rating to an “underweight” rating and upped their price target for the company from $45.00 to $57.00 in a research report on Monday, December 2nd. Needham & Company LLC upgraded Upstart from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Friday, December 13th. Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $31.00 to $85.00 in a research note on Friday, November 8th. Finally, Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and increased their target price for the stock from $56.00 to $87.00 in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Upstart has an average rating of “Hold” and a consensus price target of $61.80.

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.