Los Angeles Capital Management LLC Makes New $334,000 Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

Los Angeles Capital Management LLC bought a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) in the third quarter, Holdings Channel.com reports. The firm bought 8,352 shares of the company’s stock, valued at approximately $334,000.

Other hedge funds have also modified their holdings of the company. Anfield Capital Management LLC acquired a new stake in shares of Upstart in the second quarter valued at about $33,000. Blue Trust Inc. raised its position in shares of 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 buying an additional 550 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Upstart in the third quarter valued at about $40,000. Indiana Trust & Investment Management Co acquired a new stake in shares of Upstart in the third quarter valued at about $43,000. Finally, GAMMA Investing LLC raised its position in shares of Upstart by 259.0% in the second quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock valued at $52,000 after buying an additional 1,590 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Upstart Price Performance

Shares of UPST stock opened at $68.36 on Monday. The firm has a market cap of $6.24 billion, a PE ratio of -35.42 and a beta of 1.97. The company has a 50-day moving average of $47.85 and a two-hundred day moving average of $35.21. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $86.07.

Insiders Place Their Bets

In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $34.42, for a total transaction of $51,630.00. Following the completion of the transaction, the chief financial officer now owns 343,093 shares of the company’s stock, valued at $11,809,261.06. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dave Girouard sold 3,361 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total transaction of $128,894.35. Following the transaction, the chief executive officer now directly owns 61,512 shares of the company’s stock, valued at approximately $2,358,985.20. This trade represents a 5.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 320,626 shares of company stock valued at $15,142,490 over the last 90 days. 18.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on UPST shares. Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and increased their target price for the company from $31.00 to $85.00 in a research report on Friday, November 8th. Wedbush raised their price objective on shares of Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Finally, Barclays raised their price objective on shares of Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.