QRG Capital Management Inc. Purchases New Position in Upstart Holdings, Inc. (NASDAQ:UPST)

QRG Capital Management Inc. purchased a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,304 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UPST. Blue Trust Inc. lifted its stake 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 last quarter. Indiana Trust & Investment Management Co bought a new stake in shares of Upstart in the 3rd quarter valued at approximately $43,000. Anfield Capital Management LLC bought a new stake in shares of Upstart in the 2nd quarter valued at approximately $33,000. Castleview Partners LLC lifted its stake in shares of Upstart by 21,610.0% in the 3rd quarter. Castleview Partners LLC now owns 2,171 shares of the company’s stock valued at $87,000 after purchasing an additional 2,161 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Upstart by 259.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock valued at $52,000 after purchasing an additional 1,590 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Upstart Stock Down 4.3 %

UPST opened at $77.48 on Tuesday. The stock’s fifty day moving average is $45.28 and its two-hundred day moving average is $33.93. The company has a market capitalization of $6.94 billion, a P/E ratio of -40.15 and a beta of 1.97. Upstart Holdings, Inc. has a 52 week low of $20.25 and a 52 week high of $86.07.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on UPST shares. BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a research note on Monday. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and increased their price target for the stock from $56.00 to $87.00 in a report on Friday. Mizuho increased their price target on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Barclays increased their price target on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Wedbush increased their price target on Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.83.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 1,264 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total transaction of $48,487.04. Following the transaction, the insider now directly owns 24,557 shares in the company, valued at $942,006.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction on Monday, September 16th. The stock was sold at an average price of $34.42, for a total value of $51,630.00. Following the transaction, the chief financial officer now directly owns 343,093 shares in the company, valued at approximately $11,809,261.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,264 shares of Upstart stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total value of $48,487.04. Following the completion of the transaction, the insider now owns 24,557 shares in the company, valued at $942,006.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 312,959 shares of company stock worth $13,724,175 in the last ninety days. 18.06% of the stock is owned by company 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.