Alberta Investment Management Corp bought a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 238,800 shares of the company's stock, valued at approximately $8,461,000. Alberta Investment Management Corp owned approximately 0.25% of Upstart as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Jericho Capital Asset Management L.P. lifted its position in shares of Upstart by 11.9% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 5,011,809 shares of the company's stock valued at $219,166,000 after acquiring an additional 531,000 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Upstart by 154.6% during the fourth quarter. Morgan Stanley now owns 4,206,615 shares of the company's stock worth $183,955,000 after purchasing an additional 2,554,591 shares during the period. Geode Capital Management LLC grew its position in Upstart by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,068,515 shares of the company's stock valued at $90,469,000 after purchasing an additional 26,734 shares in the last quarter. Halter Ferguson Financial Inc. lifted its position in Upstart by 253.3% in the 1st quarter. Halter Ferguson Financial Inc. now owns 1,467,360 shares of the company's stock worth $37,638,000 after buying an additional 1,052,039 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Upstart during the 4th quarter valued at $49,915,000. 63.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on UPST. Wall Street Zen raised Upstart from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Upstart in a research note on Monday, August 3rd. B. Riley Financial reduced their price target on Upstart from $66.00 to $54.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Citigroup lowered their price target on Upstart from $80.00 to $61.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Finally, BTIG Research restated a "buy" rating and issued a $43.00 price objective on shares of Upstart in a report on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $44.40.
Check Out Our Latest Stock Analysis on Upstart
Insider Buying and Selling
In other news, insider Natalia Mirgorodskaya sold 974 shares of Upstart stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $28.99, for a total value of $28,236.26. Following the transaction, the insider owned 37,374 shares of the company's stock, valued at $1,083,472.26. This trade represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sanjay Datta sold 15,000 shares of the business's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $30.41, for a total transaction of $456,150.00. Following the completion of the sale, the insider owned 313,556 shares of the company's stock, valued at $9,535,237.96. The trade was a 4.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 24,485 shares of company stock valued at $729,248 in the last ninety days. Company insiders own 17.29% of the company's stock.
Upstart Price Performance
Upstart stock opened at $30.43 on Monday. Upstart Holdings, Inc. has a one year low of $23.97 and a one year high of $76.95. The company's fifty day moving average price is $31.03 and its two-hundred day moving average price is $30.66. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 62.10, a PEG ratio of 1.07 and a beta of 2.29.
Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). Upstart had a return on equity of 7.13% and a net margin of 4.84%.The company had revenue of $364.71 million during the quarter, compared to analyst estimates of $354.74 million. During the same period in the prior year, the firm earned $0.36 EPS. Upstart's quarterly revenue was up 41.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Upstart Holdings, Inc. will post 0.72 earnings per share for the current year.
About Upstart
(
Free Report)
Upstart Holdings, Inc operates a cloud-based lending marketplace that leverages artificial intelligence and machine learning to assess borrower creditworthiness. The company partners with banks and credit unions, providing its proprietary AI models and underwriting platform to facilitate consumer credit products. By focusing on non‐traditional data points—such as education, employment history and other real‐time indicators—Upstart seeks to improve approval rates and lower loss rates compared with conventional credit scoring methods.
Upstart's core offering centers on unsecured personal loans, which borrowers can use for purposes such as debt consolidation, home improvements or major purchases.
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