International Assets Investment Management LLC Has $581,000 Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

International Assets Investment Management LLC raised its position in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 127.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,630 shares of the company's stock after buying an additional 7,076 shares during the quarter. International Assets Investment Management LLC's holdings in Upstart were worth $581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Upstart by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company's stock worth $479,843,000 after buying an additional 369,640 shares in the last quarter. Two Sigma Investments LP grew its position in Upstart by 20.1% in the fourth quarter. Two Sigma Investments LP now owns 1,922,770 shares of the company's stock valued at $118,385,000 after acquiring an additional 321,366 shares during the last quarter. Fred Alger Management LLC raised its stake in Upstart by 53.6% during the fourth quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company's stock worth $117,914,000 after acquiring an additional 668,282 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Upstart by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company's stock worth $113,711,000 after acquiring an additional 29,664 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Upstart by 190.2% in the 4th quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company's stock valued at $105,242,000 after purchasing an additional 1,120,300 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Bank of America upgraded shares of 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. The Goldman Sachs Group boosted their target price on shares of Upstart from $15.00 to $16.50 and gave the stock a "sell" rating in a research note on Thursday, May 8th. Morgan Stanley dropped their price target on Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Stephens assumed coverage on Upstart in a report on Thursday, June 12th. They set an "equal weight" rating and a $55.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 target price on shares of Upstart in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $67.42.

Upstart Stock Up 2.0%

UPST traded up $1.25 during midday trading on Monday, hitting $64.68. 5,223,110 shares of the company were exchanged, compared to its average volume of 6,843,891. The firm's 50 day moving average price is $51.64 and its 200-day moving average price is $56.68. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $96.43. The firm has a market capitalization of $6.15 billion, a P/E ratio of -86.24 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. The company had revenue of $213.37 million for the quarter, compared to analyst estimates of $201.08 million. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. The firm's quarterly revenue was up 67.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.31) earnings per share. On average, sell-side analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Transactions at Upstart

In other news, insider Natalia Mirgorodskaya sold 1,340 shares of Upstart 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 transaction, the insider directly owned 24,623 shares of the company's stock, valued at approximately $1,088,090.37. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dave Girouard sold 41,667 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $60.05, for a total value of $2,502,103.35. Following the completion of the transaction, the chief executive officer directly owned 52,614 shares in the company, valued at $3,159,470.70. This represents a 44.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,450 shares of company stock worth $5,759,917 over the last three months. 16.67% of the stock is owned by company 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.