Connor Clark & Lunn Investment Management Ltd. Has $29.03 Million Stock Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 63.8% in the third quarter, Holdings Channel reports. The institutional investor owned 725,582 shares of the company’s stock after acquiring an additional 282,481 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Upstart were worth $29,031,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of UPST. Blue Trust Inc. lifted its position in Upstart by 125.3% during the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after purchasing an additional 550 shares during the period. Hollencrest Capital Management bought a new position in Upstart in the third quarter valued at approximately $40,000. Indiana Trust & Investment Management Co acquired a new stake in shares of Upstart in the 3rd quarter valued at $43,000. Prospera Private Wealth LLC acquired a new stake in shares of Upstart in the 3rd quarter valued at $47,000. Finally, Anfield Capital Management LLC bought a new position in Upstart in the second quarter valued at about $33,000. Institutional investors own 63.01% of the company’s stock.

Upstart Price Performance

UPST stock opened at $70.40 on Thursday. The stock has a 50-day moving average price of $49.96 and a 200-day moving average price of $36.10. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $86.07.

Insider Transactions at Upstart

In related news, insider Natalia Mirgorodskaya sold 2,080 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $40.02, for a total value of $83,241.60. Following the transaction, the insider now directly owns 22,477 shares in the company, valued at $899,529.54. This trade represents a 8.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott Darling sold 1,300 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $40.01, for a total transaction of $52,013.00. Following the sale, the insider now owns 161,043 shares of the company’s stock, valued at $6,443,330.43. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,104 shares of company stock valued at $21,500,721 in the last quarter. 18.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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