Upstart Holdings, Inc. (NASDAQ:UPST) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 63.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 725,582 shares of the company's stock after acquiring an additional 282,481 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.81% of Upstart worth $29,031,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in UPST. Millennium Management LLC lifted its position in shares of Upstart by 1,792.9% during the second quarter. Millennium Management LLC now owns 262,396 shares of the company's stock worth $6,190,000 after purchasing an additional 277,896 shares during the last quarter. International Assets Investment Management LLC boosted its position in Upstart by 4,087.8% in the 3rd quarter. International Assets Investment Management LLC now owns 233,258 shares of the company's stock valued at $9,333,000 after buying an additional 227,688 shares during the period. SG Americas Securities LLC grew its stake in 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 acquiring an additional 120,871 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Upstart by 1.6% during the first 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 during the period. Finally, Magnetar Financial LLC increased its position in shares of Upstart by 1,106.7% during the first quarter. Magnetar Financial LLC now owns 97,281 shares of the company's stock worth $2,616,000 after acquiring an additional 89,219 shares during the period. Institutional investors own 63.01% of the company's stock.

Insiders Place Their Bets

In other Upstart news, CEO Dave Girouard sold 41,667 shares of the business's 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 sale, the chief executive officer now 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 available at this link. Also, CFO Sanjay Datta sold 1,500 shares of the firm's 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 completion of the transaction, the chief financial officer now directly owns 346,093 shares of the company's stock, valued at approximately $14,456,304.61. This represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,104 shares of company stock valued at $21,500,721. 18.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on UPST shares. Needham & Company LLC reissued a "hold" rating on shares of Upstart in a research note on Thursday, August 8th. Mizuho increased their price target on Upstart from $33.00 to $48.00 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Piper Sandler upgraded Upstart from a "neutral" rating to an "overweight" rating and raised their price target for the company from $31.00 to $85.00 in a research note on Friday, November 8th. BTIG Research raised shares of Upstart from a "sell" rating to a "neutral" rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. raised shares of Upstart from an "underweight" rating to a "neutral" rating and raised their target price for the company from $30.00 to $45.00 in a research report on Friday, November 8th. One investment 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $46.83.

Upstart Stock Up 1.5 %

Shares of Upstart stock traded up $1.03 during trading on Thursday, reaching $71.43. The company's stock had a trading volume of 924,968 shares, compared to its average volume of 6,868,288. The company has a 50-day simple moving average of $49.96 and a two-hundred day simple moving average of $36.10. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $86.07. The company has a market cap of $6.52 billion, a price-to-earnings ratio of -36.48 and a beta of 1.97.

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.