BlackRock Discloses Significant Passive Stake in Upstart Holdings
Ticker: UPST · Form: SC 13G · Filed: Jan 29, 2024 · CIK: 1647639
| Field | Detail |
|---|---|
| Company | Upstart Holdings, INC. (UPST) |
| Form Type | SC 13G |
| Filed Date | Jan 29, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**BlackRock just revealed a big, passive stake in Upstart, signaling institutional confidence.**
AI Summary
BlackRock Inc., a major investment firm, reported on January 29, 2024, that as of December 31, 2023, it holds a significant stake in Upstart Holdings, Inc. This filing, an SC 13G, indicates BlackRock's passive ownership of Upstart's Common Stock. This matters to investors because BlackRock's substantial holding signals confidence in Upstart's long-term prospects, potentially influencing other institutional and retail investors.
Why It Matters
BlackRock's substantial, passive investment in Upstart Holdings, Inc. suggests a vote of confidence from a major institutional investor, which can positively influence market perception and investor sentiment.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large institution, which generally reduces volatility and signals stability rather than immediate risk.
Analyst Insight
A smart investor would note BlackRock's passive stake as a positive indicator of institutional confidence in Upstart Holdings, Inc., potentially warranting further research into the company's fundamentals.
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Upstart Holdings, Inc. (company) — the subject company whose stock is being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 29, 2024 (date) — the filing date of the SC 13G
Forward-Looking Statements
- BlackRock will maintain its passive stake in Upstart Holdings, Inc. for the foreseeable future. (BlackRock Inc.) — high confidence, target: December 31, 2024
- Other institutional investors may view BlackRock's stake as a positive signal for Upstart Holdings, Inc. (Upstart Holdings, Inc.) — medium confidence, target: June 30, 2024
FAQ
What type of filing is this document?
This document is an SC 13G filing, specifically designated as 'Schedule 13G Under the Securities Exchange Act of 1934'.
Who is the 'reporting person' in this filing?
The reporting person is BlackRock, Inc., identified by its CIK 0001364742 and business address at 50 Hudson Yards, New York, NY 10001.
What company's securities are the subject of this filing?
The subject company is Upstart Holdings, Inc., identified by its CIK 0001647639 and business address at 2950 S. Delaware Street, Suite 300, San Mateo, CA 94403.
What is the CUSIP number for the securities reported?
The CUSIP number for the Common Stock of Upstart Holdings, Inc. is 91680M107.
What was the 'Date of Event Which Requires Filing of this Statement'?
The date of the event which required the filing of this statement was December 31, 2023.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 29, 2024 regarding Upstart Holdings, Inc. (UPST).