Y Intercept Hong Kong Ltd Makes New Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

Y Intercept Hong Kong Ltd purchased a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,759 shares of the company’s stock, valued at approximately $430,000.

A number of other large investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Upstart during the third quarter worth about $35,000. BNP Paribas acquired a new position in shares of Upstart in the 3rd quarter valued at approximately $37,000. Blue Trust Inc. grew its position in shares of Upstart by 125.3% in the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after purchasing an additional 550 shares during the period. Hollencrest Capital Management bought a new stake in Upstart during the 3rd quarter worth approximately $40,000. Finally, Indiana Trust & Investment Management Co acquired a new stake in Upstart during the 3rd quarter worth approximately $43,000. Institutional investors own 63.01% of the company’s stock.

Upstart Stock Down 0.7 %

Shares of Upstart stock opened at $83.91 on Tuesday. The stock has a market cap of $7.66 billion, a P/E ratio of -43.48 and a beta of 2.19. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $88.95. The business’s 50 day moving average is $63.54 and its 200-day moving average is $42.71.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UPST. Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Wedbush lifted their price target on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Mizuho boosted their price target on Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 20th. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut Upstart from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $45.00 to $57.00 in a research note on Monday, December 2nd. Two 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.80.

Insiders Place Their Bets

In other Upstart news, insider Scott Darling sold 6,200 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $40.00, for a total value of $60,000.00. Following the transaction, the chief financial officer now owns 341,593 shares of the company’s stock, valued at $13,663,720. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 533,368 shares of company stock valued at $32,813,134. 18.06% of the stock is currently owned by corporate insiders.

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.