Neo Ivy Capital Management Acquires New Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

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

A number of other institutional investors have also added to or reduced their stakes in UPST. Rakuten Securities Inc. bought a new position in shares of Upstart during the fourth quarter valued at $31,000. Virtus Fund Advisers LLC bought a new position in shares of Upstart during the fourth quarter valued at $32,000. Farther Finance Advisors LLC increased its holdings in shares of 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. increased its holdings in shares of 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 bought a new position in shares of Upstart during the fourth quarter valued at $96,000. Institutional investors own 63.01% of the company's stock.

Upstart Stock Performance

Shares of NASDAQ UPST traded up $2.40 during trading on Tuesday, hitting $47.66. The company had a trading volume of 4,740,949 shares, compared to its average volume of 6,740,001. The stock has a 50 day simple moving average of $45.71 and a 200 day simple moving average of $59.97. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43. The firm has a market capitalization of $4.53 billion, a P/E ratio of -32.64 and a beta of 2.39.

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 the consensus estimate of $0.19 by $0.11. The firm had revenue of $213.37 million for the quarter, compared to the consensus estimate of $201.08 million. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. The business's revenue for the quarter was up 67.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.31) earnings per share. As a group, analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Insider Activity at Upstart

In related news, insider Natalia Mirgorodskaya sold 764 shares of Upstart stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $46.96, for a total transaction of $35,877.44. Following the sale, the insider now owns 25,963 shares of the company's stock, valued at approximately $1,219,222.48. This trade represents a 2.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sanjay Datta sold 13,512 shares of Upstart stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $46.97, for a total value of $634,658.64. Following the completion of the sale, the chief financial officer now directly owns 311,356 shares in the company, valued at approximately $14,624,391.32. The trade was a 4.16% decrease in their position. The disclosure for this sale can be found here. 16.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America upgraded Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price target for the company in a report on Tuesday, April 29th. Piper Sandler dropped their price objective on Upstart from $105.00 to $69.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised Upstart from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $57.00 to $79.00 in a research report on Wednesday, February 12th. B. Riley raised Upstart from a "neutral" rating to a "buy" rating and increased their price objective for the company from $49.00 to $105.00 in a research report on Wednesday, February 12th. Finally, Barclays increased their price objective on Upstart from $42.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. One research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $63.81.

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.