Quantbot Technologies LP Raises Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Quantbot Technologies LP increased its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 416.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,158 shares of the company’s stock after purchasing an additional 79,146 shares during the quarter. Quantbot Technologies LP owned approximately 0.11% of Upstart worth $3,927,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Anfield Capital Management LLC acquired a new stake in shares of Upstart in the 2nd quarter worth $33,000. Blue Trust Inc. increased its stake in shares of Upstart by 125.3% in the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after acquiring an additional 550 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Upstart in the 3rd quarter worth $40,000. Indiana Trust & Investment Management Co acquired a new stake in shares of Upstart in the 3rd quarter worth $43,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Upstart in the 3rd quarter worth $47,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Stock Performance

Shares of UPST opened at $78.51 on Wednesday. The stock has a 50-day simple moving average of $53.10 and a 200-day simple moving average of $37.61. The stock has a market capitalization of $7.16 billion, a PE ratio of -40.68 and a beta of 1.97. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $86.07.

Insider Activity

In other news, insider Natalia Mirgorodskaya sold 5,000 shares of Upstart stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $41.03, for a total value of $205,150.00. Following the completion of the transaction, the insider now owns 22,477 shares in the company, valued at approximately $922,231.31. This trade represents a 18.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $65.15, for a total value of $2,714,605.05. Following the sale, the chief executive officer now directly owns 61,512 shares in the company, valued at $4,007,506.80. This trade represents a 40.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 451,742 shares of company stock worth $24,719,949. 18.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on UPST. JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $30.00 to $45.00 in a research note on Friday, November 8th. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and raised their target price for the stock from $56.00 to $87.00 in a research note on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Wedbush increased their price target on Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Mizuho increased their price target on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Upstart currently has a consensus rating of “Hold” and a consensus price target of $46.83.

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.