Fred Alger Management LLC Grows Stock Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Fred Alger Management LLC lifted its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 153.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,246,839 shares of the company's stock after acquiring an additional 754,416 shares during the period. Fred Alger Management LLC owned 1.37% of Upstart worth $49,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings 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 valued at $191,698,000 after purchasing an additional 115,057 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Upstart by 63.8% in the third 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. Charles Schwab Investment Management Inc. grew its stake in Upstart by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 642,876 shares of the company's stock valued at $25,721,000 after acquiring an additional 32,052 shares during the period. Pathstone Holdings LLC increased its holdings in shares of Upstart by 0.3% during the third quarter. Pathstone Holdings LLC now owns 396,408 shares of the company's stock valued at $15,860,000 after acquiring an additional 1,119 shares in the last quarter. Finally, Liontrust Investment Partners LLP raised its position in shares of Upstart by 26.1% during the second quarter. Liontrust Investment Partners LLP now owns 290,000 shares of the company's stock worth $6,841,000 after purchasing an additional 60,000 shares during the period. 63.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on UPST. Piper Sandler upgraded shares of Upstart from a "neutral" rating to an "overweight" rating and boosted 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 report on Monday, November 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of Upstart in a research report on Thursday, August 8th. Mizuho lifted their price target on Upstart from $33.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. raised Upstart from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $30.00 to $45.00 in a research note on Friday, November 8th. One equities research 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $46.83.

Insider Transactions at Upstart

In other Upstart news, insider Natalia Mirgorodskaya sold 1,411 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $77.36, for a total value of $109,154.96. Following the sale, the insider now directly owns 18,596 shares in the company, valued at $1,438,586.56. The trade was a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Paul Gu sold 58,786 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $75.93, for a total value of $4,463,620.98. Following the transaction, the chief technology officer now owns 863,065 shares of the company's stock, valued at $65,532,525.45. The trade was a 6.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 502,939 shares of company stock worth $28,887,725 in the last ninety days. Company insiders own 18.06% of the company's stock.

Upstart Trading Up 0.5 %

Shares of UPST traded up $0.36 on Friday, reaching $78.79. 2,318,390 shares of the company's stock traded hands, compared to its average volume of 6,871,261. The stock's 50 day simple moving average is $55.46 and its two-hundred day simple moving average is $38.53. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $86.07. The stock has a market cap of $7.19 billion, a PE ratio of -40.82 and a beta of 1.97.

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.