Independent Advisor Alliance Cuts Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Independent Advisor Alliance reduced its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 82.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,156 shares of the company’s stock after selling 24,299 shares during the period. Independent Advisor Alliance’s holdings in Upstart were worth $206,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Algert Global LLC increased its stake in Upstart by 75.8% during the 3rd quarter. Algert Global LLC now owns 19,010 shares of the company’s stock worth $761,000 after buying an additional 8,194 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Upstart by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 642,876 shares of the company’s stock worth $25,721,000 after buying an additional 32,052 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Upstart during the 3rd quarter worth approximately $687,000. Intech Investment Management LLC acquired a new position in shares of Upstart during the 3rd quarter worth approximately $939,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Upstart by 63.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after purchasing an additional 282,481 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on UPST shares. Barclays boosted their target price on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Piper Sandler upgraded 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 target price on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $30.00 to $45.00 in a report on Friday, November 8th. Finally, BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Upstart has a consensus rating of “Hold” and a consensus target price of $46.83.

Insiders Place Their Bets

In other news, insider Natalia Mirgorodskaya sold 1,411 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $77.36, for a total transaction of $109,154.96. Following the sale, the insider now owns 18,596 shares of the company’s stock, valued at approximately $1,438,586.56. This represents a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $79.54, for a total value of $119,310.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 502,939 shares of company stock worth $28,887,725 over the last ninety days. Corporate insiders own 18.06% of the company’s stock.

Upstart Stock Up 0.5 %

NASDAQ:UPST opened at $78.79 on Friday. The stock’s fifty day moving average is $55.46 and its two-hundred day 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 capitalization of $7.19 billion, a price-to-earnings ratio of -40.82 and a beta of 1.97.

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.