West Tower Group LLC Purchases Shares of 2,000 Upstart Holdings, Inc. (NASDAQ:UPST)

West Tower Group LLC purchased a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $80,000.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in Upstart by 125.3% in the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after purchasing an additional 550 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Upstart during the 3rd quarter worth approximately $40,000. Indiana Trust & Investment Management Co bought a new position in shares of Upstart during the 3rd quarter worth approximately $43,000. Prospera Private Wealth LLC bought a new position in shares of Upstart during the 3rd quarter worth approximately $47,000. Finally, Anfield Capital Management LLC bought a new position in shares of Upstart during the 2nd quarter worth approximately $33,000. 63.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UPST. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $87.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $30.00 to $45.00 in a research note on Friday, November 8th. Mizuho boosted 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. Barclays boosted their price target on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Wedbush boosted 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. 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.83.

Upstart Price Performance

Shares of NASDAQ:UPST opened at $79.52 on Tuesday. The company’s 50 day simple moving average is $52.29 and its 200 day simple moving average is $37.24. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $86.07. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of -41.20 and a beta of 1.97.

Insider Activity

In related news, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction on Friday, November 8th. The stock was 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 in the company, valued at $4,007,506.80. The trade was a 40.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chief Legal Officer Scott Darling sold 9,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $45.00, for a total value of $405,000.00. Following the sale, the insider now owns 164,870 shares in the company, valued at $7,419,150. This represents a 5.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 451,742 shares of company stock worth $24,719,949. Insiders own 18.06% of the company’s stock.

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.