Oppenheimer Asset Management Inc. Makes New $826,000 Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

Oppenheimer Asset Management Inc. purchased a new position in Upstart Holdings, Inc. (NASDAQ:UPST) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,651 shares of the company’s stock, valued at approximately $826,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Entropy Technologies LP bought a new stake in Upstart during the third quarter worth about $1,111,000. Los Angeles Capital Management LLC acquired a new stake in Upstart in the third quarter worth $334,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Upstart during the third quarter worth $1,839,000. Tyler Stone Wealth Management increased its position in shares of Upstart by 94.1% during the third quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock worth $2,222,000 after acquiring an additional 26,917 shares in the last quarter. Finally, Hollencrest Capital Management bought a new position in Upstart in the third quarter valued at $40,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Upstart Price Performance

Shares of UPST stock opened at $68.27 on Tuesday. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of -35.37 and a beta of 1.97. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $86.07. The company’s fifty day moving average price is $48.51 and its 200-day moving average price is $35.52.

Insider Buying and Selling at Upstart

In related news, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction dated 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 approximately $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 accessible through the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $79.54, for a total transaction of $119,310.00. Following the transaction, the chief financial officer now directly owns 331,093 shares of the company’s stock, valued at approximately $26,335,137.22. This represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 299,937 shares of company stock worth $14,344,742. Insiders own 18.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $30.00 to $45.00 in a research report on Friday, November 8th. 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 report on Friday, November 8th. Mizuho boosted their price target on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research 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, BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.83.

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.