ProShare Advisors LLC Has $1.36 Million Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

ProShare Advisors LLC boosted its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 51.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,114 shares of the company's stock after purchasing an additional 7,557 shares during the quarter. ProShare Advisors LLC's holdings in Upstart were worth $1,362,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC bought a new position in Upstart during the 4th quarter valued at about $219,000. Merit Financial Group LLC bought a new position in shares of Upstart in the fourth quarter valued at approximately $271,000. Blue Trust Inc. boosted its holdings in shares of Upstart by 49.1% in the 4th quarter. Blue Trust Inc. now owns 1,475 shares of the company's stock worth $91,000 after acquiring an additional 486 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Upstart in the 4th quarter worth approximately $2,057,000. Finally, KBC Group NV grew its position in Upstart by 17.8% during the 4th quarter. KBC Group NV now owns 3,088 shares of the company's stock worth $190,000 after acquiring an additional 467 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Upstart Price Performance

Shares of UPST stock traded down $0.37 during trading hours on Friday, reaching $45.26. The company had a trading volume of 4,776,873 shares, compared to its average volume of 6,747,981. Upstart Holdings, Inc. has a 1-year low of $20.60 and a 1-year high of $96.43. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of -31.00 and a beta of 2.39. The company has a 50 day moving average of $45.83 and a 200 day moving average of $60.19.

Upstart (NASDAQ:UPST - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $213.37 million for the quarter, compared to analyst estimates of $201.08 million. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. The company's quarterly revenue was up 67.0% on a year-over-year basis. As a group, sell-side analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Upstart news, insider Natalia Mirgorodskaya sold 764 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $46.96, for a total value of $35,877.44. Following the completion of the sale, the insider now directly owns 25,963 shares in the company, valued at $1,219,222.48. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sanjay Datta sold 13,512 shares of the business's stock in a transaction 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 sale, the chief financial officer now directly owns 311,356 shares in the company, valued at $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. 16.67% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on UPST shares. Bank of America raised Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price objective on the stock in a research note on Tuesday, April 29th. Citigroup upped their price target on shares of Upstart from $87.00 to $108.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Needham & Company LLC reissued a "buy" rating and set a $70.00 price objective on shares of Upstart in a report on Monday, May 19th. Morgan Stanley dropped their target price on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Finally, Barclays increased their price target on shares of Upstart from $42.00 to $47.00 and gave the company an "equal weight" rating in a research note on Monday, May 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. Based on data from MarketBeat.com, Upstart presently has an average rating of "Hold" and a consensus price target of $63.81.

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.