Oppenheimer Asset Management Inc. Purchases New Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

Oppenheimer Asset Management Inc. bought a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,651 shares of the company’s stock, valued at approximately $826,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Anfield Capital Management LLC purchased a new position in shares of Upstart during the second quarter worth $33,000. Blue Trust Inc. raised its stake in 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 in the last quarter. Hollencrest Capital Management acquired a new stake in shares of Upstart during the third quarter worth about $40,000. Indiana Trust & Investment Management Co acquired a new stake in shares of Upstart during the third quarter worth about $43,000. Finally, GAMMA Investing LLC increased its position in shares of Upstart by 259.0% during the second quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after purchasing an additional 1,590 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $30.00 to $45.00 in a research report on Friday, November 8th. Mizuho boosted their price target on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $56.00 to $87.00 in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. Finally, Piper Sandler raised Upstart from a “neutral” rating to an “overweight” rating and upped their target price for the company from $31.00 to $85.00 in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Upstart has an average rating of “Hold” and a consensus target price of $46.83.

Upstart Trading Down 0.1 %

Shares of NASDAQ:UPST opened at $68.27 on Tuesday. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $86.07. The firm has a market capitalization of $6.23 billion, a P/E ratio of -35.37 and a beta of 1.97. The firm’s 50 day moving average is $48.51 and its two-hundred day moving average is $35.52.

Insider Activity at Upstart

In related news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $79.54, for a total value of $119,310.00. Following the completion of the transaction, the chief financial officer now owns 331,093 shares of the company’s stock, valued at approximately $26,335,137.22. This trade represents a 0.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Natalia Mirgorodskaya sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $41.03, for a total transaction of $205,150.00. Following the completion of the sale, the insider now owns 22,477 shares of the company’s stock, valued at approximately $922,231.31. The trade was a 18.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 299,937 shares of company stock worth $14,344,742 over the last quarter. 18.06% of the stock is currently owned by company insiders.

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.