Mandatum Life Insurance Co Ltd Takes Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Mandatum Life Insurance Co Ltd bought a new position in Upstart Holdings, Inc. (NASDAQ:UPST) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,050 shares of the company’s stock, valued at approximately $372,000.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $56.00 to $87.00 in a report on Friday, November 8th. JPMorgan Chase & Co. lowered shares of Upstart from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $45.00 to $57.00 in a research report on Monday, December 2nd. Wedbush lifted their target price on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Needham & Company LLC upgraded Upstart from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, December 13th. Finally, Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.80.

Insiders Place Their Bets

In other news, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $65.15, for a total value of $2,714,605.05. Following the completion of the transaction, the chief executive officer now owns 61,512 shares in the company, valued at approximately $4,007,506.80. This trade represents a 40.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $79.54, for a total value of $119,310.00. Following the sale, the chief financial officer now directly owns 331,093 shares in the company, valued at approximately $26,335,137.22. This represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 392,535 shares of company stock valued at $26,968,327 in the last ninety days. Corporate insiders own 18.06% of the company’s stock.

Upstart Trading Down 2.4 %

Upstart stock opened at $62.96 on Monday. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $88.95. The stock has a 50 day moving average of $69.84 and a 200-day moving average of $49.48.

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.