State of New Jersey Common Pension Fund D Takes $1.84 Million Position in Upstart Holdings, Inc. (NASDAQ:UPST)

State of New Jersey Common Pension Fund D acquired a new position in Upstart Holdings, Inc. (NASDAQ:UPST) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 45,969 shares of the company’s stock, valued at approximately $1,839,000.

Other hedge funds also recently bought and sold shares of the company. Swiss National Bank raised its position in shares of Upstart by 1.6% in the 1st quarter. Swiss National Bank now owns 142,700 shares of the company’s stock worth $3,837,000 after acquiring an additional 2,200 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Upstart by 10.1% in the 1st quarter. ProShare Advisors LLC now owns 13,342 shares of the company’s stock valued at $359,000 after buying an additional 1,219 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Upstart by 288.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 79,922 shares of the company’s stock worth $2,149,000 after buying an additional 59,346 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Upstart by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock worth $191,698,000 after acquiring an additional 115,057 shares in the last quarter. Finally, Magnetar Financial LLC lifted its position in Upstart by 1,106.7% during the first quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock valued at $2,616,000 after acquiring an additional 89,219 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on UPST shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Wedbush increased their price target on Upstart from $45.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Mizuho boosted their price target on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Barclays increased their price objective on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, Piper Sandler raised shares of Upstart from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $31.00 to $85.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.83.

Insiders Place Their Bets

In other news, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 61,512 shares of the company’s stock, valued at $4,007,506.80. The trade was a 40.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $41.77, for a total transaction of $62,655.00. Following the sale, the chief financial officer now directly owns 346,093 shares in the company, valued at $14,456,304.61. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 299,937 shares of company stock valued at $14,344,742. Company insiders own 18.06% of the company’s stock.

Upstart Price Performance

NASDAQ:UPST opened at $68.27 on Tuesday. The firm has a market capitalization of $6.23 billion, a P/E ratio of -35.37 and a beta of 1.97. The company’s fifty day moving average price is $48.51 and its 200-day moving average price is $35.52. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $86.07.

Upstart Company 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.