State of New Jersey Common Pension Fund D Has $1.81 Million Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

State of New Jersey Common Pension Fund D lifted its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPSTGet Rating) by 71.2% during the third quarter, Holdings Channel.com reports. The firm owned 86,994 shares of the company’s stock after acquiring an additional 36,173 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Upstart were worth $1,809,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in Upstart by 19.8% in the first quarter. Bank of New York Mellon Corp now owns 172,118 shares of the company’s stock valued at $18,777,000 after buying an additional 28,494 shares during the period. American Century Companies Inc. lifted its holdings in Upstart by 66.9% in the first quarter. American Century Companies Inc. now owns 13,549 shares of the company’s stock valued at $1,478,000 after buying an additional 5,429 shares during the period. HighTower Advisors LLC lifted its holdings in Upstart by 32.0% in the first quarter. HighTower Advisors LLC now owns 6,991 shares of the company’s stock valued at $765,000 after buying an additional 1,694 shares during the period. Cetera Advisor Networks LLC increased its stake in Upstart by 15.2% in the first quarter. Cetera Advisor Networks LLC now owns 3,705 shares of the company’s stock valued at $404,000 after purchasing an additional 488 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in Upstart by 73.0% in the first quarter. Private Advisor Group LLC now owns 6,185 shares of the company’s stock valued at $675,000 after purchasing an additional 2,610 shares in the last quarter. Institutional investors and hedge funds own 37.43% of the company’s stock.

Analyst Ratings Changes

UPST has been the subject of several research analyst reports. Bank of America downgraded shares of Upstart from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $34.00 to $15.00 in a research note on Thursday, November 10th. Citigroup decreased their price target on shares of Upstart from $33.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday. Barclays decreased their price target on shares of Upstart to $17.00 in a research note on Tuesday, November 15th. Piper Sandler boosted their target price on shares of Upstart from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Jefferies Financial Group decreased their target price on shares of Upstart from $25.00 to $20.00 in a research report on Wednesday, November 9th. Seven research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Upstart currently has an average rating of “Hold” and an average target price of $55.21.

Insider Buying and Selling at Upstart

In related news, CFO Sanjay Datta sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $22.01, for a total transaction of $50,623.00. Following the sale, the chief financial officer now directly owns 53,508 shares in the company, valued at approximately $1,177,711.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Sanjay Datta sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $22.01, for a total transaction of $50,623.00. Following the sale, the chief financial officer now owns 53,508 shares of the company’s stock, valued at approximately $1,177,711.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kerry Whorton Cooper sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $20.92, for a total transaction of $41,840.00. Following the sale, the director now directly owns 768 shares in the company, valued at approximately $16,066.56. The disclosure for this sale can be found here. Insiders have sold a total of 34,293 shares of company stock worth $577,988 over the last three months. 18.87% of the stock is currently owned by insiders.

Upstart Stock Performance

Upstart stock opened at $17.29 on Friday. Upstart Holdings, Inc. has a fifty-two week low of $12.01 and a fifty-two week high of $161.00. The stock has a market cap of $1.42 billion, a PE ratio of -172.90 and a beta of 1.32. The firm’s 50-day simple moving average is $16.31 and its 200 day simple moving average is $22.14.

Upstart (NASDAQ:UPSTGet Rating) last released its earnings results on Tuesday, November 8th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.23). The company had revenue of $157.23 million during the quarter, compared to analysts’ expectations of $171.67 million. Upstart had a net margin of 0.55% and a return on equity of 0.70%. As a group, analysts predict that Upstart Holdings, Inc. will post -1.63 EPS for the current fiscal year.

About Upstart

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Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank partners. The company was founded in 2012 and is headquartered in San Mateo, California.

See Also

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Institutional Ownership by Quarter for Upstart (NASDAQ:UPST)

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