Synergy Financial Group LTD Takes $258,000 Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Synergy Financial Group LTD acquired a new position in Upstart Holdings, Inc. (NASDAQ:UPST) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,444 shares of the company’s stock, valued at approximately $258,000.

Several other large investors have also recently bought and sold shares of UPST. Geode Capital Management LLC lifted its stake in shares of Upstart by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock valued at $72,702,000 after acquiring an additional 29,482 shares during the period. Fred Alger Management LLC grew its holdings in Upstart by 153.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after acquiring an additional 754,416 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Upstart by 63.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after acquiring an additional 282,481 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Upstart by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 642,876 shares of the company’s stock valued at $25,721,000 after acquiring an additional 32,052 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of Upstart by 689.5% during the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after purchasing an additional 514,400 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Upstart Stock Down 1.0 %

Shares of UPST opened at $76.39 on Tuesday. The stock has a market cap of $6.97 billion, a PE ratio of -39.58 and a beta of 2.18. The business has a 50-day simple moving average of $58.81 and a two-hundred day simple moving average of $40.37. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $86.07.

Insider Buying and Selling

In related news, CTO Paul Gu sold 4,019 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $75.00, for a total transaction of $301,425.00. Following the completion of the sale, the chief technology officer now owns 863,065 shares of the company’s stock, valued at $64,729,875. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $34.42, for a total transaction of $51,630.00. Following the transaction, the chief financial officer now directly owns 343,093 shares in the company, valued at approximately $11,809,261.06. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 534,868 shares of company stock worth $32,864,764 in the last ninety days. Company insiders own 18.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UPST. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $31.00 to $85.00 in a research report on Friday, November 8th. Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Barclays boosted their target price on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Wedbush upped their target price on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $57.56.

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.