Upstart Holdings, Inc. (NASDAQ:UPST) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance cut its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 82.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,156 shares of the company’s stock after selling 24,299 shares during the period. Independent Advisor Alliance’s holdings in Upstart were worth $206,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in UPST. Los Angeles Capital Management LLC purchased a new position in shares of Upstart during the 3rd quarter worth approximately $334,000. Tyler Stone Wealth Management increased its stake in shares of Upstart by 94.1% during the 3rd quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock worth $2,222,000 after purchasing an additional 26,917 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Upstart by 63.8% during 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 in the last quarter. Intech Investment Management LLC purchased a new stake in Upstart in the 3rd quarter worth approximately $939,000. Finally, SteelPeak Wealth LLC purchased a new stake in Upstart in the 3rd quarter worth approximately $828,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Upstart

In other Upstart news, insider Scott Darling sold 1,300 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $40.01, for a total value of $52,013.00. Following the transaction, the insider now owns 161,043 shares in the company, valued at $6,443,330.43. The trade was a 0.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of the business’s stock in a transaction 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 owns 331,093 shares in the company, valued at $26,335,137.22. This represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 502,939 shares of company stock worth $28,887,725. 18.06% of the stock is currently owned by corporate insiders.

Upstart Trading Up 0.5 %

NASDAQ:UPST opened at $78.79 on Friday. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of -40.82 and a beta of 1.97. The firm’s fifty day simple moving average is $55.46 and its 200 day simple moving average is $38.53. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $86.07.

Analyst Ratings Changes

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