Bristlecone Advisors LLC Acquires 8,066 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Bristlecone Advisors LLC lifted its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 125.0% during the fourth quarter, HoldingsChannel reports. The firm owned 14,520 shares of the company’s stock after purchasing an additional 8,066 shares during the period. Bristlecone Advisors LLC’s holdings in Upstart were worth $894,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UPST. Point72 Asia Singapore Pte. Ltd. bought a new position in Upstart during the third quarter valued at about $35,000. BNP Paribas bought a new position in Upstart during the third quarter valued at about $37,000. Hollencrest Capital Management bought a new position in Upstart during the third quarter valued at about $40,000. Blue Trust Inc. increased its stake in Upstart by 125.3% during the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after acquiring an additional 550 shares during the period. Finally, Indiana Trust & Investment Management Co bought a new position in Upstart during the third quarter valued at about $43,000. 63.01% of the stock is currently owned by institutional investors.

Upstart Price Performance

Shares of UPST opened at $70.94 on Tuesday. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $88.95. The business’s 50 day simple moving average is $67.60 and its 200-day simple moving average is $54.09.

Insider Transactions at Upstart

In related news, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total value of $2,608,354.20. Following the completion of the transaction, the chief executive officer now owns 57,138 shares in the company, valued at $3,576,838.80. The trade was a 42.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Paul Gu sold 65,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $66.58, for a total transaction of $4,327,700.00. Following the completion of the transaction, the chief technology officer now owns 878,565 shares of the company’s stock, valued at $58,494,857.70. This trade represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 347,868 shares of company stock valued at $24,056,862 in the last three months. 18.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

UPST has been the topic of several research reports. Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the company from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $87.00 in a report on Friday, November 8th. Piper Sandler raised Upstart from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $31.00 to $85.00 in a report on Friday, November 8th. Needham & Company LLC raised Upstart from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Friday, December 13th. Finally, BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $61.80.

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.