GAMMA Investing LLC Increases Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

GAMMA Investing LLC raised its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 19.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,348 shares of the company’s stock after acquiring an additional 224 shares during the quarter. GAMMA Investing LLC’s holdings in Upstart were worth $83,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of UPST. Los Angeles Capital Management LLC acquired a new position in shares of Upstart in the 3rd quarter valued at $334,000. Tyler Stone Wealth Management grew its position in Upstart by 94.1% during the third quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock valued at $2,222,000 after buying an additional 26,917 shares during the period. Intech Investment Management LLC purchased a new position in Upstart in the third quarter valued at $939,000. Quadrature Capital Ltd acquired a new position in shares of Upstart in the third quarter worth about $676,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted 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 acquiring an additional 282,481 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Transactions at Upstart

In related news, CTO Paul Gu sold 4,019 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $75.00, for a total value of $301,425.00. Following the completion of the sale, the chief technology officer now owns 863,065 shares of the company’s stock, valued at approximately $64,729,875. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerry Whorton Cooper sold 500 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 17,961 shares in the company, valued at $1,339,710.99. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 457,868 shares of company stock valued at $29,720,588. Corporate insiders own 18.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on UPST. JPMorgan Chase & Co. lowered Upstart from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $45.00 to $57.00 in a research note on Monday, December 2nd. Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Needham & Company LLC raised Upstart from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Friday, December 13th. BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Wedbush upped their price objective on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.80.

Upstart Stock Performance

Shares of UPST stock opened at $57.74 on Friday. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $88.95. The firm has a market capitalization of $5.27 billion, a P/E ratio of -29.92 and a beta of 2.26. The stock’s fifty day moving average is $69.52 and its two-hundred day moving average is $48.17.

Upstart 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.