GAMMA Investing LLC Has $3.52 Million Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

GAMMA Investing LLC increased its stake in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 5,575.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,502 shares of the company's stock after acquiring an additional 75,154 shares during the period. GAMMA Investing LLC owned approximately 0.08% of Upstart worth $3,521,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. bought a new position in shares of Upstart in the fourth quarter valued at approximately $31,000. Virtus Fund Advisers LLC bought a new position in shares of Upstart in the fourth quarter valued at approximately $32,000. Farther Finance Advisors LLC boosted its holdings in shares of Upstart by 24.2% in the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock valued at $54,000 after acquiring an additional 172 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Upstart in the fourth quarter valued at approximately $62,000. Finally, Blue Trust Inc. boosted its holdings in shares of Upstart by 49.1% in the fourth quarter. Blue Trust Inc. now owns 1,475 shares of the company's stock valued at $91,000 after acquiring an additional 486 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

Upstart Price Performance

Upstart stock traded down $2.56 during midday trading on Friday, reaching $52.02. The stock had a trading volume of 5,612,378 shares, compared to its average volume of 6,750,256. The firm's fifty day simple moving average is $47.21 and its two-hundred day simple moving average is $58.03. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of -35.63 and a beta of 2.29.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on UPST. Morgan Stanley decreased their price objective on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Piper Sandler dropped their price target on Upstart from $105.00 to $69.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Bank of America upgraded Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price objective for the company in a research report on Tuesday, April 29th. Stephens began coverage on Upstart in a report on Thursday. They issued an "equal weight" rating and a $55.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $70.00 target price on shares of Upstart in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $66.96.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 1,340 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $44.19, for a total value of $59,214.60. Following the completion of the sale, the insider now owns 24,623 shares of the company's stock, valued at $1,088,090.37. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $60.11, for a total value of $2,504,603.37. Following the transaction, the chief executive officer now directly owns 52,614 shares in the company, valued at approximately $3,162,627.54. This represents a 44.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,783 shares of company stock worth $3,257,814 in the last quarter. 16.67% of the stock is currently owned by corporate insiders.

Upstart 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.