Upstart Holdings, Inc. (NASDAQ:UPST) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina lowered its holdings in Upstart Holdings, Inc. (NASDAQ:UPST – Get Rating) by 9.4% in the fourth quarter, HoldingsChannel reports. The firm owned 30,613 shares of the company’s stock after selling 3,170 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Upstart were worth $405,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI boosted its position in Upstart by 197.4% in the 4th quarter. Arcadia Investment Management Corp MI now owns 10,490 shares of the company’s stock valued at $139,000 after buying an additional 6,963 shares during the period. Brainard Capital Management LLC acquired a new stake in shares of Upstart in the fourth quarter valued at $5,178,000. Envestnet Asset Management Inc. boosted its holdings in Upstart by 13.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,660 shares of the company’s stock valued at $220,000 after purchasing an additional 1,950 shares during the period. Asset Management One Co. Ltd. grew its stake in Upstart by 63.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,774 shares of the company’s stock worth $50,000 after purchasing an additional 1,472 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in Upstart in the 4th quarter valued at about $648,000. 37.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UPST has been the topic of a number of recent research reports. Compass Point started coverage on shares of Upstart in a research note on Tuesday, March 7th. They set a “sell” rating on the stock. Piper Sandler lifted their price objective on shares of Upstart from $16.00 to $17.00 in a research report on Wednesday, May 10th. Loop Capital upgraded shares of Upstart from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Wednesday, February 15th. JPMorgan Chase & Co. started coverage on Upstart in a research note on Tuesday, April 11th. They issued an “underweight” rating and a $11.00 price target on the stock. Finally, Morgan Stanley upped their price objective on Upstart from $10.00 to $13.00 in a research report on Wednesday, May 10th. Nine research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $17.73.

Insider Buying and Selling at Upstart

In other news, CTO Paul Gu sold 9,674 shares of the stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $18.14, for a total transaction of $175,486.36. Following the completion of the sale, the chief technology officer now owns 730,230 shares in the company, valued at $13,246,372.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Upstart news, CFO Sanjay Datta sold 3,200 shares of the business’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $19.17, for a total value of $61,344.00. Following the transaction, the chief financial officer now directly owns 280,670 shares of the company’s stock, valued at approximately $5,380,443.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Paul Gu sold 9,674 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $18.14, for a total transaction of $175,486.36. Following the completion of the sale, the chief technology officer now owns 730,230 shares of the company’s stock, valued at approximately $13,246,372.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,484 shares of company stock worth $1,003,204. 18.45% of the stock is owned by company insiders.

Upstart Stock Down 6.3 %

Shares of Upstart stock opened at $23.05 on Monday. The firm’s fifty day simple moving average is $15.64 and its 200-day simple moving average is $16.79. Upstart Holdings, Inc. has a 12 month low of $11.93 and a 12 month high of $54.69.

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.