Los Angeles Capital Management LLC Buys Shares of 8,352 Upstart Holdings, Inc. (NASDAQ:UPST)

Los Angeles Capital Management LLC acquired a new position in Upstart Holdings, Inc. (NASDAQ:UPST) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,352 shares of the company’s stock, valued at approximately $334,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of UPST. Millennium Management LLC grew its position in shares of Upstart by 1,792.9% in the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after buying an additional 277,896 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Upstart by 4,087.8% in the 3rd quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock worth $9,333,000 after buying an additional 227,688 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Upstart by 442.1% in the 2nd quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock worth $3,496,000 after buying an additional 120,871 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Upstart by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock worth $191,698,000 after buying an additional 115,057 shares during the last quarter. Finally, Magnetar Financial LLC grew its position in shares of Upstart by 1,106.7% in the 1st quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock worth $2,616,000 after buying an additional 89,219 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Upstart Price Performance

UPST opened at $68.36 on Monday. The firm has a fifty day moving average price of $47.85 and a 200 day moving average price of $35.21. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $86.07. The stock has a market cap of $6.24 billion, a P/E ratio of -35.42 and a beta of 1.97.

Wall Street Analysts Forecast Growth

UPST has been the subject of a number of recent analyst reports. Mizuho lifted their target price on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $30.00 to $45.00 in a research note on Friday, November 8th. Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $31.00 to $85.00 in a research note on Friday, November 8th. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $87.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.83.

Insider Buying and Selling

In related news, CEO Dave Girouard sold 3,361 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $38.35, for a total transaction of $128,894.35. Following the sale, the chief executive officer now directly owns 61,512 shares of the company’s stock, valued at approximately $2,358,985.20. This represents a 5.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $79.54, for a total transaction of $119,310.00. Following the sale, the chief financial officer now directly owns 331,093 shares in the company, valued at $26,335,137.22. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 320,626 shares of company stock valued at $15,142,490. 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.