Neo Ivy Capital Management Purchases Shares of 8,019 Upstart Holdings, Inc. (NASDAQ:UPST)

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rakuten Securities Inc. acquired a new stake in Upstart in the fourth quarter worth about $31,000. Virtus Fund Advisers LLC purchased a new position in Upstart during the fourth quarter valued at approximately $32,000. Farther Finance Advisors LLC raised its position in Upstart by 24.2% during 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. Blue Trust Inc. raised its position in Upstart by 49.1% during 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. Finally, R Squared Ltd purchased a new position in Upstart during the fourth quarter valued at approximately $96,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays boosted their price objective on Upstart from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Morgan Stanley decreased their price target on Upstart from $70.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. raised Upstart from an "underweight" rating to a "neutral" rating and upped their price target for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. Bank of America raised 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. Finally, The Goldman Sachs Group increased their target price on Upstart from $15.00 to $16.50 and gave the stock a "sell" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $63.81.

Insider Buying and Selling

In other Upstart news, insider Natalia Mirgorodskaya sold 764 shares of Upstart stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $46.96, for a total transaction of $35,877.44. Following the completion of the sale, the insider now owns 25,963 shares of the company's stock, valued at approximately $1,219,222.48. The trade was a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sanjay Datta sold 13,512 shares of Upstart stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $46.97, for a total transaction of $634,658.64. Following the transaction, the chief financial officer now directly owns 311,356 shares in the company, valued at approximately $14,624,391.32. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,616 shares of company stock worth $729,751. Corporate insiders own 16.67% of the company's stock.

Upstart Trading Down 1.0%

Shares of UPST traded down $0.47 during midday trading on Thursday, reaching $46.54. 2,156,002 shares of the company were exchanged, compared to its average volume of 6,729,550. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $96.43. The stock has a 50-day moving average price of $45.57 and a 200-day moving average price of $59.80. The company has a market cap of $4.43 billion, a price-to-earnings ratio of -31.89 and a beta of 2.39.

Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.11. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. The company had revenue of $213.37 million during the quarter, compared to the consensus estimate of $201.08 million. During the same quarter in the prior year, the firm earned ($0.31) EPS. The company's quarterly revenue was up 67.0% compared to the same quarter last year. Equities research analysts anticipate that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

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.