Westside Investment Management Inc. Trims Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Westside Investment Management Inc. decreased its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,650 shares of the company’s stock after selling 400 shares during the quarter. Westside Investment Management Inc.’s holdings in Upstart were worth $146,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fred Alger Management LLC raised its position in Upstart by 153.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock valued at $49,886,000 after purchasing an additional 754,416 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Upstart by 689.5% in the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after buying an additional 514,400 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Upstart by 63.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after buying an additional 282,481 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Upstart by 1,792.9% during the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock worth $6,190,000 after buying an additional 277,896 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Upstart by 4,087.8% during the third quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock worth $9,333,000 after buying an additional 227,688 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Ratings Changes

UPST has been the subject of a number of recent research reports. Wedbush increased their price objective on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Redburn Atlantic raised Upstart from a “neutral” rating to a “buy” rating and increased their price target for the stock from $37.00 to $95.00 in a report on Tuesday, December 3rd. Piper Sandler raised shares of Upstart from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $31.00 to $85.00 in a research note on Friday, November 8th. Citigroup upgraded shares of 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. Finally, BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.56.

Upstart Stock Performance

Shares of UPST opened at $77.08 on Friday. The firm’s 50-day moving average is $61.82 and its two-hundred day moving average is $41.61. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $86.07.

Insider Buying and Selling

In related news, insider Scott Darling sold 6,200 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $39.67, for a total value of $245,954.00. Following the sale, the insider now directly owns 161,043 shares in the company, valued at $6,388,575.81. The trade was a 3.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Paul Gu sold 87,600 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $69.39, for a total transaction of $6,078,564.00. Following the transaction, the chief technology officer now owns 863,065 shares of the company’s stock, valued at $59,888,080.35. This trade represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 534,868 shares of company stock worth $32,864,764 in the last quarter. Company insiders own 18.06% of the company’s stock.

Upstart 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.