Fred Alger Management LLC Has $57.28 Million Position in Upstart Holdings, Inc. $UPST

Fred Alger Management LLC lessened its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,127,568 shares of the company’s stock after selling 92,132 shares during the quarter. Fred Alger Management LLC owned 1.16% of Upstart worth $57,280,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Clearstead Advisors LLC bought a new stake in Upstart in the third quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its stake in Upstart by 9,454.5% during the third quarter. Cornerstone Planning Group LLC now owns 1,051 shares of the company’s stock worth $49,000 after purchasing an additional 1,040 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Upstart by 72.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 864 shares of the company’s stock worth $56,000 after purchasing an additional 362 shares during the period. State of Wyoming acquired a new stake in Upstart during the second quarter valued at approximately $61,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Upstart by 29.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,068 shares of the company’s stock valued at $69,000 after purchasing an additional 241 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on UPST. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Upstart in a report on Wednesday, March 11th. Citizens Jmp reiterated a “market underperform” rating and issued a $20.00 price target on shares of Upstart in a research report on Friday, February 13th. Truist Financial dropped their price objective on Upstart from $59.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Citigroup cut Upstart from a “buy” rating to a “strong sell” rating in a report on Friday, February 13th. Finally, Compass Point upgraded shares of Upstart from a “sell” rating to a “neutral” rating and boosted their target price for the company from $20.00 to $30.00 in a research note on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $48.17.

Upstart Trading Up 2.3%

NASDAQ:UPST opened at $26.36 on Monday. Upstart Holdings, Inc. has a 1 year low of $25.60 and a 1 year high of $87.30. The firm has a 50 day moving average of $37.28 and a 200-day moving average of $46.10. The stock has a market capitalization of $2.58 billion, a P/E ratio of 62.76, a price-to-earnings-growth ratio of 0.68 and a beta of 2.44.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Upstart had a return on equity of 6.30% and a net margin of 5.13%.The business had revenue of $296.09 million for the quarter, compared to analyst estimates of $288.54 million. During the same period in the prior year, the company earned $0.26 EPS. Upstart’s revenue for the quarter was up 35.2% on a year-over-year basis. As a group, analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Upstart declared that its board has initiated a share buyback plan on Thursday, February 19th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Upstart news, CFO Sanjay Datta sold 7,982 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $29.86, for a total value of $238,342.52. Following the transaction, the chief financial officer owned 276,688 shares of the company’s stock, valued at approximately $8,261,903.68. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 9,481 shares of company stock valued at $282,201 over the last quarter. 16.67% of the stock is currently owned by insiders.

Upstart Profile

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.