Point72 DIFC Ltd Buys Shares of 6,812 Upstart Holdings, Inc. (NASDAQ:UPST)

Point72 DIFC Ltd bought a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) during the 3rd quarter, Holdings Channel.com reports. The fund bought 6,812 shares of the company’s stock, valued at approximately $273,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UPST. Fred Alger Management LLC grew its stake in Upstart by 153.2% in the third quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock valued at $49,886,000 after purchasing an additional 754,416 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Upstart by 63.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after purchasing an additional 282,481 shares during the last quarter. Millennium Management LLC grew its stake in Upstart by 1,792.9% in the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after purchasing an additional 277,896 shares during the last quarter. International Assets Investment Management LLC grew its stake in Upstart by 4,087.8% in the third quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock valued at $9,333,000 after purchasing an additional 227,688 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in Upstart by 442.1% in the second quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock valued at $3,496,000 after purchasing an additional 120,871 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling

In other Upstart news, Director Kerry Whorton Cooper sold 500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $74.59, for a total value of $37,295.00. Following the completion of the transaction, the director now directly owns 17,961 shares of the company’s stock, valued at approximately $1,339,710.99. The trade was a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Paul Gu sold 4,019 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief technology officer now directly owns 863,065 shares of the company’s stock, valued at $64,729,875. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 536,368 shares of company stock valued at $32,917,039 over the last quarter. 18.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on UPST. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $31.00 to $85.00 in a research note on Friday, November 8th. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $56.00 to $87.00 in a research note on Friday, November 8th. Wedbush boosted their price target on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $57.56.

Upstart Stock Up 5.1 %

Upstart stock opened at $77.16 on Friday. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $86.07. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of -39.98 and a beta of 2.19. The stock has a 50-day moving average price of $58.81 and a 200 day moving average price of $40.15.

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.