CTC 13F: Exits Upstart (UPST) Stake

CTC completely exited its investment in Upstart Holdings, Inc. (UPST) during the most recent quarter. According to a Form 13F filing with the SEC, the firm sold all 9,295 shares it previously held. This move follows a series of liquidations by CTC, which also recently closed out positions in other major companies like JD.com and Super Micro Computer.

CTC Liquidates Upstart Stake

The fund's decision to sell out represents a 100% reduction in its holdings. Before the sale, CTC owned 9,295 shares of the San Mateo-based fintech company. Because 13F filings are backward-looking, this report shows the fund's holdings as of the end of the reporting period and might not reflect what the firm owns today. This exit is part of a broader trend for CTC, which has been trimming or closing several positions in its portfolio lately, including trades in Bank of America and Wells Fargo.

Upstart Stock Performance

On Saturday, Upstart shares were trading at $35.43. The stock has been volatile over the past year, moving between a low of $23.96 and a high of $66.51. Currently, the price is holding above its 200-day moving average of $33.31 and its 50-day moving average of $28.58. With a market capitalization of roughly $2.49 billion, the company carries a high beta of 2.17, meaning it tends to move much more sharply than the broader market.

Recent Earnings

Upstart’s financial results show a company that is currently profitable, reporting earnings of $0.52 per share. The firm generated $1.29 billion in revenue, representing a growth rate of 42.3%. It maintains a net margin of 4.7% and a return on equity of 7.9%. Looking ahead, the company is scheduled to report its next batch of quarterly results on November 3, 2026. The company currently trades at a forward P/E ratio of 7.36, suggesting investors are looking at future earnings potential relative to the current price.

Analysts Set New Price Targets

Wall Street analysts have offered mixed views on the stock recently. On October 15, 2026, Citizens maintained a Market Underperform rating but lowered its price target to $18.00. Earlier that month, Goldman Sachs maintained a Neutral rating with a $28.00 target. Some firms remain more optimistic; BTIG reiterated a Buy rating with a $43.00 target on September 22, 2026, and Citigroup set a high target of $61.00 back in July. Out of 16 analysts, the consensus recommendation is currently a buy, with an average price target of $40.00.

About Upstart Holdings, Inc.

Upstart operates a lending platform that uses artificial intelligence to help banks and credit unions provide loans. Instead of relying only on traditional credit scores, its cloud-based technology looks at more variables to price risk for personal loans, auto loans, and home equity lines of credit. CTC’s exit comes as the company continues to navigate a changing interest rate environment that impacts how many loans its platform can process.

What to Watch

Investors should keep an eye on the upcoming November earnings report to see if Upstart can maintain its revenue growth and profitability margins. While CTC has moved on from the stock, the high number of analyst opinions and the stock's recent climb above its moving averages suggest the market remains active. Future 13F filings will reveal if other institutional investors are stepping in to fill the gap left by CTC's departure.