Algert Global LLC Purchases 31,596 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Algert Global LLC boosted its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 166.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,606 shares of the company's stock after purchasing an additional 31,596 shares during the quarter. Algert Global LLC owned about 0.06% of Upstart worth $3,116,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. bought a new position in Upstart during the fourth quarter worth about $31,000. Farther Finance Advisors LLC raised its position in shares of Upstart by 24.2% in the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock valued at $54,000 after acquiring an additional 172 shares during the period. GAMMA Investing LLC boosted its stake in Upstart by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock worth $83,000 after acquiring an additional 224 shares during the last quarter. Blue Trust Inc. grew its holdings in Upstart by 49.1% during the fourth quarter. Blue Trust Inc. now owns 1,475 shares of the company's stock valued at $91,000 after purchasing an additional 486 shares during the period. Finally, R Squared Ltd bought a new stake in Upstart in the fourth quarter valued at approximately $96,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CTO Paul Gu sold 12,007 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $948,793.14. Following the transaction, the chief technology officer now directly owns 1,006,599 shares in the company, valued at $79,541,452.98. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Natalia Mirgorodskaya sold 794 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $62,741.88. Following the completion of the sale, the insider now owns 21,985 shares of the company's stock, valued at $1,737,254.70. This trade represents a 3.49 % 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 valued at $2,638,828 in the last 90 days. 16.67% of the stock is currently owned by insiders.

Upstart Trading Down 9.6 %

Shares of UPST opened at $46.44 on Thursday. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43. The firm has a fifty day simple moving average of $46.81 and a 200 day simple moving average of $60.33. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of -31.81 and a beta of 2.39.

Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.11. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. The company had revenue of $213.37 million during the quarter, compared to analysts' expectations of $201.08 million. During the same quarter last year, the company earned ($0.31) EPS. Upstart's revenue for the quarter was up 67.0% compared to the same quarter last year. As a group, research analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Needham & Company LLC decreased their price target on shares of Upstart from $108.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday. Bank of America raised Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 target price for the company in a research note on Tuesday, April 29th. Piper Sandler dropped their price target on Upstart from $105.00 to $69.00 and set an "overweight" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. raised Upstart from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $57.00 to $79.00 in a research note on Wednesday, February 12th. Finally, Citigroup raised their target price on shares of Upstart from $87.00 to $108.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $63.31.

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.

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