Apollon Wealth Management LLC Sells 347 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Apollon Wealth Management LLC trimmed its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,431 shares of the company’s stock after selling 347 shares during the quarter. Apollon Wealth Management LLC’s holdings in Upstart were worth $617,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UPST. Anfield Capital Management LLC purchased a new stake in shares of Upstart during the 2nd quarter worth approximately $33,000. Blue Trust Inc. raised its stake in Upstart by 125.3% during the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after purchasing an additional 550 shares in the last quarter. Hollencrest Capital Management bought a new position in Upstart during the third quarter valued at $40,000. Indiana Trust & Investment Management Co purchased a new position in shares of Upstart in the 3rd quarter worth $43,000. Finally, GAMMA Investing LLC increased its holdings in shares of Upstart by 259.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after buying an additional 1,590 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $34.42, for a total value of $51,630.00. Following the transaction, the chief financial officer now owns 343,093 shares of the company’s stock, valued at $11,809,261.06. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction on Friday, November 8th. The shares were sold at an average price of $65.15, for a total value of $2,714,605.05. Following the sale, the chief executive officer now directly owns 61,512 shares of the company’s stock, valued at approximately $4,007,506.80. This trade represents a 40.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 356,126 shares of company stock worth $16,558,090 in the last three months. Corporate insiders own 18.06% of the company’s stock.

Upstart Trading Up 1.4 %

NASDAQ UPST opened at $68.36 on Friday. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $86.07. The company’s 50-day moving average price is $47.85 and its 200-day moving average price is $35.12. The stock has a market cap of $6.24 billion, a PE ratio of -35.42 and a beta of 1.97.

Analyst Ratings Changes

UPST has been the subject of a number of analyst reports. Mizuho increased their price target on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 20th. BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and boosted their target price for the company from $56.00 to $87.00 in a research report on Friday, November 8th. Barclays raised their price target on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Wedbush lifted their price objective on shares of Upstart from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.83.

Upstart 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.