Tidal Investments LLC Boosts Holdings in Upstart Holdings, Inc. (NASDAQ:UPST)

Tidal Investments LLC boosted its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 1,413.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 333,463 shares of the company’s stock after acquiring an additional 311,434 shares during the period. Tidal Investments LLC owned about 0.37% of Upstart worth $13,342,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of UPST. Anfield Capital Management LLC acquired a new position in shares of Upstart in the 2nd quarter valued at $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Upstart in the third quarter valued at $35,000. BNP Paribas purchased a new stake in shares of Upstart in the third quarter valued at about $37,000. Blue Trust Inc. raised its holdings 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. Finally, Hollencrest Capital Management acquired a new stake in shares of Upstart during the third quarter worth about $40,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Insider Buying and Selling at Upstart

In related news, CEO Dave Girouard sold 41,667 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $65.15, for a total transaction of $2,714,605.05. Following the sale, the chief executive officer now owns 61,512 shares of the company’s stock, valued at $4,007,506.80. This trade represents a 40.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerry Whorton Cooper sold 500 shares of Upstart stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $74.59, for a total value of $37,295.00. Following the sale, the director now owns 17,961 shares of the company’s stock, valued at approximately $1,339,710.99. This represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 534,868 shares of company stock valued at $32,864,764 over the last quarter. Corporate insiders own 18.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $31.00 to $85.00 in a research note on Friday, November 8th. Wedbush boosted their price objective on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and raised their price objective for the company from $56.00 to $87.00 in a research report on Friday, November 8th. Finally, Mizuho lifted their price target on Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Upstart currently has a consensus rating of “Hold” and a consensus target price of $61.80.

Upstart Stock Down 1.7 %

NASDAQ:UPST opened at $77.08 on Friday. Upstart Holdings, Inc. has a 52-week low of $20.60 and a 52-week high of $86.07. The stock has a fifty day simple moving average of $61.82 and a 200-day simple moving average of $41.61. The company has a market capitalization of $7.03 billion, a PE ratio of -39.94 and a beta of 2.19.

Upstart Company 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.