Mirae Asset Global Investments Co. Ltd. Has $956,000 Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

Mirae Asset Global Investments Co. Ltd. lowered its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,093 shares of the company’s stock after selling 337 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Upstart were worth $956,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of UPST. Geode Capital Management LLC lifted its stake in 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 lifted its position in shares of 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 buying an additional 754,416 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Upstart by 63.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after acquiring an additional 282,481 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Upstart by 5.2% during the 3rd 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 increased its holdings in shares of Upstart by 689.5% during the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after acquiring an additional 514,400 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling

In other Upstart news, CTO Paul Gu sold 87,600 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $69.39, for a total value of $6,078,564.00. Following the sale, the chief technology officer now owns 863,065 shares of the company’s stock, valued at approximately $59,888,080.35. This trade represents a 9.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction on Friday, November 15th. The shares were sold at an average price of $65.41, for a total value of $2,725,438.47. Following the completion of the transaction, the chief executive officer now owns 61,512 shares in the company, valued at approximately $4,023,499.92. The trade was a 40.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 347,868 shares of company stock valued at $24,056,862 over the last quarter. 18.06% of the stock is owned by company insiders.

Upstart Trading Down 5.1 %

NASDAQ UPST opened at $67.34 on Wednesday. The company has a market cap of $6.14 billion, a price-to-earnings ratio of -34.89 and a beta of 2.25. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $88.95. The company has a 50 day moving average of $67.49 and a 200-day moving average of $54.38.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. On average, equities research analysts forecast that Upstart Holdings, Inc. will post -2.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on UPST. Needham & Company LLC raised shares of Upstart from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Friday, December 13th. BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their price target for the company from $56.00 to $87.00 in a research note on Friday, November 8th. Wedbush raised their price objective on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Finally, Redburn Atlantic raised Upstart from a “neutral” rating to a “buy” rating and upped their target price for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.80.

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.