Two Sigma Advisers LP Grows Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Two Sigma Advisers LP boosted its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 689.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 589,000 shares of the company’s stock after purchasing an additional 514,400 shares during the period. Two Sigma Advisers LP’s holdings in Upstart were worth $23,566,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quadrature Capital Ltd acquired a new position in Upstart in the third quarter valued at $676,000. Quantinno Capital Management LP lifted its position in Upstart by 8.3% during the third quarter. Quantinno Capital Management LP now owns 78,944 shares of the company’s stock valued at $3,159,000 after buying an additional 6,083 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Upstart during the 3rd quarter valued at $273,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Upstart by 95.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 47,318 shares of the company’s stock worth $1,893,000 after purchasing an additional 23,073 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in Upstart in the 3rd quarter worth approximately $1,445,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Upstart Stock Up 5.1 %

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of Upstart from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $45.00 to $57.00 in a research report on Monday, December 2nd. Mizuho lifted their price target on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 20th. 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. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and increased their price target for the stock from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $57.56.

Insider Activity

In other news, insider Scott Darling sold 6,200 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $39.67, for a total value of $245,954.00. Following the completion of the sale, the insider now owns 161,043 shares in the company, valued at $6,388,575.81. This represents a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dave Girouard sold 41,667 shares of the firm’s 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 transaction, the chief executive officer now owns 61,512 shares of the company’s stock, valued at approximately $4,007,506.80. This trade represents a 40.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 536,368 shares of company stock worth $32,917,039 over the last three months. Corporate 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.