Upstart Holdings, Inc. (NASDAQ:UPST) Shares Bought by Blue Trust Inc.

Blue Trust Inc. raised its position in Upstart Holdings, Inc. (NASDAQ:UPST) by 49.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,475 shares of the company’s stock after buying an additional 486 shares during the quarter. Blue Trust Inc.’s holdings in Upstart were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Fred Alger Management LLC raised its position in Upstart by 153.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock valued at $49,886,000 after purchasing an additional 754,416 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Upstart by 689.5% in the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after buying an additional 514,400 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Upstart by 1,413.7% during the third quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock worth $13,342,000 after buying an additional 311,434 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Upstart by 63.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after buying an additional 282,481 shares during the last quarter. Finally, Millennium Management LLC increased its position in Upstart by 1,792.9% in the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after acquiring an additional 277,896 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $79.54, for a total transaction of $119,310.00. Following the completion of the transaction, the chief financial officer now directly owns 331,093 shares of the company’s stock, valued at $26,335,137.22. This trade represents a 0.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total value of $2,608,354.20. Following the completion of the sale, the chief executive officer now directly owns 57,138 shares in the company, valued at approximately $3,576,838.80. The trade was a 42.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 349,368 shares of company stock worth $24,176,172. 18.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. cut Upstart from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $45.00 to $57.00 in a research report on Monday, December 2nd. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and increased their price target for the stock from $56.00 to $87.00 in a report on Friday, November 8th. Needham & Company LLC raised shares of Upstart from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Friday, December 13th. Wedbush raised their target price on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $31.00 to $85.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.80.

Upstart Trading Up 5.7 %

Shares of UPST opened at $68.85 on Friday. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $88.95. The firm has a market capitalization of $6.28 billion, a P/E ratio of -35.67 and a beta of 2.25. The firm’s 50-day moving average is $67.53 and its two-hundred day moving average is $53.39.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.31). The firm had revenue of $162.14 million for the quarter, compared to analysts’ expectations of $149.94 million. Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. During the same period last year, the firm earned ($0.48) EPS. Analysts predict that Upstart Holdings, Inc. will post -2.18 EPS for the current year.

About Upstart

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.