Bayesian Capital Management LP Purchases New Shares in Upstart Holdings, Inc. (NASDAQ:UPST)

Bayesian Capital Management LP acquired a new stake in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 19,900 shares of the company's stock, valued at approximately $1,225,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UPST. GAMMA Investing LLC grew its position in shares of Upstart by 19.9% in the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $83,000 after buying an additional 224 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Upstart during the 4th quarter worth $313,000. Harbor Capital Advisors Inc. increased its position in Upstart by 12.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 11,721 shares of the company's stock worth $722,000 after buying an additional 1,303 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of Upstart in the fourth quarter valued at approximately $219,000. Finally, Merit Financial Group LLC acquired a new stake in Upstart in the 4th quarter worth about $271,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Upstart news, CEO Dave Girouard sold 4,524 shares of the company's stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Natalia Mirgorodskaya sold 794 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $62,741.88. Following the completion of the sale, the insider now directly owns 21,985 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders sold 33,395 shares of company stock valued at $2,638,828. Company insiders own 16.67% of the company's stock.

Upstart Stock Down 9.6 %

Shares of UPST stock traded down $4.96 during trading on Wednesday, reaching $46.44. 23,967,940 shares of the company's stock were exchanged, compared to its average volume of 6,746,376. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43. The stock has a market capitalization of $4.42 billion, a PE ratio of -31.81 and a beta of 2.39. The firm's fifty day moving average price is $46.81 and its 200-day moving average price is $60.33.

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. The firm had revenue of $213.37 million during the quarter, compared to analysts' expectations of $201.08 million. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. The company's quarterly revenue was up 67.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.31) EPS. As a group, analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

UPST has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Upstart from $93.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC cut their price target on shares of Upstart from $108.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday. Bank of America upgraded shares of Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price target on the stock in a research report on Tuesday, April 29th. The Goldman Sachs Group raised their target price on Upstart from $13.50 to $15.00 and gave the company a "sell" rating in a research note on Wednesday, February 12th. Finally, Citigroup increased their price objective on Upstart from $87.00 to $108.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.