Man Group plc purchased a new position in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 592,243 shares of the company's stock, valued at approximately $36,464,000. Man Group plc owned approximately 0.65% of Upstart as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of UPST. Wealth Enhancement Advisory Services LLC purchased a new stake in Upstart in the 4th quarter worth $313,000. Wealthcare Advisory Partners LLC purchased a new stake in Upstart in the 4th quarter worth $219,000. Merit Financial Group LLC purchased a new stake in Upstart in the 4th quarter worth $271,000. Mandatum Life Insurance Co Ltd purchased a new stake in Upstart in the 4th quarter worth $372,000. Finally, Blue Trust Inc. lifted its stake in Upstart by 49.1% in the 4th quarter. Blue Trust Inc. now owns 1,475 shares of the company's stock worth $91,000 after purchasing an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.
Upstart Stock Up 1.5%
NASDAQ:UPST traded up $0.69 during mid-day trading on Friday, hitting $48.08. 4,852,362 shares of the stock traded hands, compared to its average volume of 6,726,678. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of -32.93 and a beta of 2.39. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $96.43. The firm's 50 day moving average is $46.10 and its two-hundred day moving average is $60.33.
Upstart (NASDAQ:UPST - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.11. The business had revenue of $213.37 million for the quarter, compared to the consensus estimate of $201.08 million. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The company's revenue for the quarter was up 67.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.31) EPS. As a group, research analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current year.
Insiders Place Their Bets
In other news, CFO Sanjay Datta sold 16,070 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the transaction, the chief financial officer now directly owns 295,537 shares in the company, valued at approximately $23,353,333.74. This trade represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dave Girouard sold 4,524 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.01, for a total transaction of $357,441.24. Following the transaction, the chief executive officer now owns 52,614 shares in the company, valued at approximately $4,157,032.14. This represents a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,395 shares of company stock worth $2,638,828 in the last three months. Corporate insiders own 16.67% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on UPST shares. Barclays boosted their target price on shares of Upstart from $42.00 to $47.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. B. Riley upgraded shares of Upstart from a "neutral" rating to a "buy" rating and upped their target price for the company from $49.00 to $105.00 in a research report on Wednesday, February 12th. Piper Sandler decreased their target price on shares of Upstart from $105.00 to $69.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Bank of America upgraded shares of Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 target price on the stock in a research report on Tuesday, April 29th. Finally, Needham & Company LLC decreased their target price on shares of Upstart from $108.00 to $70.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $63.81.
Check Out Our Latest Stock Analysis on Upstart
About Upstart
(
Free Report)
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.
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