Fred Alger Management LLC Reduces Stock Holdings in Upstart Holdings, Inc. $UPST

Key Points

• Fred Alger Management LLC reduced its stake in Upstart Holdings by 7.9%, selling 150,985 shares and now holds approximately 1.85% of the company.
• Upstart stock is currently trading at $66.90, with a market cap of $6.44 billion and notable volatility indicated by a beta of 2.37.
• Insider activity includes CEO Dave Girouard selling 41,667 shares, which decreased his ownership in the company by 44.19%.

Fred Alger Management LLC decreased its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 7.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,764,136 shares of the company's stock after selling 150,985 shares during the period. Fred Alger Management LLC owned 1.85% of Upstart worth $81,203,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Virtus Fund Advisers LLC purchased a new position in Upstart during the fourth quarter worth $32,000. Mackenzie Financial Corp purchased a new position in Upstart during the fourth quarter worth $62,000. GAMMA Investing LLC increased its position in Upstart by 23.3% during the first quarter. GAMMA Investing LLC now owns 1,662 shares of the company's stock worth $77,000 after buying an additional 314 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Upstart by 385.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,950 shares of the company's stock worth $90,000 after buying an additional 1,548 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in Upstart by 20.0% during the first quarter. NewEdge Advisors LLC now owns 1,997 shares of the company's stock worth $92,000 after buying an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Analyst Upgrades and Downgrades

UPST has been the subject of several recent research reports. The Goldman Sachs Group raised Upstart to a "sell" rating and set a $71.00 price target for the company in a research report on Monday, July 14th. Morgan Stanley reiterated an "equal weight" rating on shares of Upstart in a research note on Wednesday, August 6th. Needham & Company LLC reiterated a "buy" rating and issued a $82.00 target price (up from $70.00) on shares of Upstart in a research note on Wednesday, August 6th. JPMorgan Chase & Co. raised shares of Upstart from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $93.00 to $88.00 in a research note on Wednesday, August 20th. Finally, Stephens assumed coverage on shares of Upstart in a research note on Thursday, June 12th. They set an "equal weight" rating and a $55.00 price objective for the company. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Upstart has an average rating of "Hold" and an average target price of $78.54.

Upstart Stock Up 1.4%

Shares of NASDAQ UPST traded up $0.89 during midday trading on Friday, hitting $63.08. The stock had a trading volume of 7,076,745 shares, compared to its average volume of 5,962,569. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of -788.50 and a beta of 2.37. Upstart Holdings, Inc. has a 1-year low of $31.40 and a 1-year high of $96.43. The company has a fifty day moving average price of $72.34 and a 200 day moving average price of $58.25.

Upstart (NASDAQ:UPST - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.09. The business had revenue of $257.29 million for the quarter, compared to analyst estimates of $225.35 million. Upstart had a negative return on equity of 5.95% and a negative net margin of 0.75%.The company's revenue was up 101.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) EPS. Upstart has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Insider Transactions at Upstart

In other news, CTO Paul Gu sold 5,000 shares of Upstart stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $68.61, for a total value of $343,050.00. Following the transaction, the chief technology officer directly owned 1,147,156 shares of the company's stock, valued at $78,706,373.16. The trade was a 0.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Dave Girouard sold 41,667 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $63.27, for a total value of $2,636,271.09. Following the sale, the chief executive officer owned 52,614 shares in the company, valued at approximately $3,328,887.78. The trade was a 44.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 158,414 shares of company stock valued at $10,506,147. 16.67% of the stock is currently owned by company insiders.

About Upstart

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.