Harbor Capital Advisors Inc. Increases Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Harbor Capital Advisors Inc. increased its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,721 shares of the company’s stock after acquiring an additional 1,303 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Upstart were worth $722,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Upstart during the 4th quarter worth approximately $313,000. GAMMA Investing LLC increased its stake in Upstart by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $83,000 after purchasing an additional 224 shares in the last quarter. Tidal Investments LLC increased its stake in Upstart by 1,413.7% during the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock valued at $13,342,000 after purchasing an additional 311,434 shares in the last quarter. Synergy Financial Group LTD acquired a new position in Upstart during the 3rd quarter valued at approximately $258,000. Finally, Orion Capital Management LLC increased its stake in Upstart by 5.1% during the 3rd quarter. Orion Capital Management LLC now owns 5,560 shares of the company’s stock valued at $222,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling

In other news, CTO Paul Gu sold 4,019 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $75.00, for a total value of $301,425.00. Following the completion of the sale, the chief technology officer now directly owns 863,065 shares in the company, valued at $64,729,875. This represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dave Girouard sold 41,667 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 61,512 shares of the company’s stock, valued at $4,007,506.80. This trade represents a 40.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 352,368 shares of company stock valued at $24,440,688. Corporate insiders own 18.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their price target for the company from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Needham & Company LLC upgraded shares of Upstart from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Friday, December 13th. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Wedbush upped their price target on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Finally, Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $31.00 to $85.00 in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $61.80.

Upstart Stock Performance

Shares of NASDAQ UPST opened at $57.07 on Tuesday. The company’s fifty day moving average price is $69.72 and its 200 day moving average price is $48.58. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $88.95. The company has a market capitalization of $5.21 billion, a PE ratio of -29.57 and a beta of 2.26.

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.