Fred Alger Management LLC Sells 92,132 Shares of Upstart Holdings, Inc. $UPST

Fred Alger Management LLC lessened its stake in Upstart Holdings, Inc. (NASDAQ:UPST) by 7.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,127,568 shares of the company’s stock after selling 92,132 shares during the quarter. Fred Alger Management LLC’s holdings in Upstart were worth $57,280,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Upstart by 3.8% during the second quarter. Geode Capital Management LLC now owns 2,009,116 shares of the company’s stock worth $129,965,000 after purchasing an additional 73,582 shares in the last quarter. Norges Bank bought a new stake in shares of Upstart during the second quarter valued at approximately $67,777,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Upstart by 31.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 971,856 shares of the company’s stock valued at $49,370,000 after purchasing an additional 232,595 shares in the last quarter. Mane Global Capital Management LP acquired a new stake in shares of Upstart in the second quarter valued at approximately $43,576,000. Finally, Clear Street Group Inc. bought a new position in Upstart in the 3rd quarter worth approximately $29,018,000. 63.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UPST. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Upstart in a report on Wednesday, March 11th. Zacks Research cut Upstart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Citigroup downgraded Upstart from a “buy” rating to a “strong sell” rating in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Upstart in a research note on Monday, December 29th. Finally, Truist Financial decreased their price target on Upstart from $59.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.17.

Insider Activity at Upstart

In related news, CFO Sanjay Datta sold 7,982 shares of Upstart stock in a transaction on Friday, February 20th. The stock was sold at an average price of $29.86, for a total transaction of $238,342.52. Following the completion of the sale, the chief financial officer directly owned 276,688 shares of the company’s stock, valued at $8,261,903.68. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 9,481 shares of company stock worth $282,201 over the last ninety days. 16.67% of the stock is owned by insiders.

Upstart Stock Performance

Shares of UPST stock opened at $26.36 on Monday. Upstart Holdings, Inc. has a 52-week low of $25.60 and a 52-week high of $87.30. The stock has a market cap of $2.58 billion, a PE ratio of 62.76, a PEG ratio of 0.68 and a beta of 2.44. The firm’s 50 day moving average price is $37.28 and its two-hundred day moving average price is $46.10.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, February 10th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $296.09 million during the quarter, compared to analysts’ expectations of $288.54 million. Upstart had a net margin of 5.13% and a return on equity of 6.30%. The business’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, sell-side analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Upstart declared that its Board of Directors has initiated a share buyback program on Thursday, February 19th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

About Upstart

Upstart Holdings, Inc operates a cloud-based lending marketplace that leverages artificial intelligence and machine learning to assess borrower creditworthiness. The company partners with banks and credit unions, providing its proprietary AI models and underwriting platform to facilitate consumer credit products. By focusing on non‐traditional data points—such as education, employment history and other real‐time indicators—Upstart seeks to improve approval rates and lower loss rates compared with conventional credit scoring methods.

Upstart’s core offering centers on unsecured personal loans, which borrowers can use for purposes such as debt consolidation, home improvements or major purchases.