Neo Ivy Capital Management Takes Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Neo Ivy Capital Management acquired a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,019 shares of the company's stock, valued at approximately $493,000.

A number of other institutional investors have also recently added to or reduced their stakes in UPST. Blair William & Co. IL acquired a new position in shares of Upstart during the fourth quarter worth about $222,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Upstart during the 4th quarter valued at about $2,057,000. 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 valued at $479,843,000 after buying an additional 369,640 shares during the period. Merit Financial Group LLC acquired a new position in Upstart during the 4th quarter worth approximately $271,000. Finally, Vontobel Holding Ltd. purchased a new position in Upstart in the 4th quarter worth approximately $234,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Upstart in a research report on Monday, May 19th. The Goldman Sachs Group raised their price target on shares of Upstart from $15.00 to $16.50 and gave the company a "sell" rating in a report on Thursday, May 8th. Bank of America raised shares of Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price target on the stock in a research note on Tuesday, April 29th. JPMorgan Chase & Co. raised shares of Upstart from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $57.00 to $79.00 in a research report on Wednesday, February 12th. Finally, B. Riley upgraded Upstart from a "neutral" rating to a "buy" rating and raised their target price for the company from $49.00 to $105.00 in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $63.81.

Upstart Stock Performance

Shares of Upstart stock traded down $0.65 during trading on Wednesday, reaching $47.01. The company had a trading volume of 4,103,294 shares, compared to its average volume of 6,729,508. The firm's fifty day moving average is $45.67 and its 200-day moving average is $59.89. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The company has a market cap of $4.47 billion, a price-to-earnings ratio of -32.20 and a beta of 2.39.

Upstart (NASDAQ:UPST - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.11. The company had revenue of $213.37 million for 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 firm's quarterly revenue was up 67.0% compared to the same quarter last year. During the same period last year, the business posted ($0.31) earnings per share. On average, research analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Insider Activity

In other news, insider Natalia Mirgorodskaya sold 1,340 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were 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 directly owns 24,623 shares of the company's stock, valued at approximately $1,088,090.37. This represents a 5.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sanjay Datta sold 13,512 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $46.97, for a total transaction of $634,658.64. Following the completion of the transaction, the chief financial officer now owns 311,356 shares of the company's stock, valued at $14,624,391.32. This trade represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,616 shares of company stock valued at $729,751. Company insiders own 16.67% of the company's stock.

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.