Blueshift Asset Management LLC Acquires 10,425 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Key Points

• Blueshift Asset Management LLC significantly increased its stake in Upstart Holdings, raising its position by 307.6% during Q1, now owning 13,814 shares valued at $636,000.
• Upstart reported earnings of $0.30 EPS for the recent quarter, surpassing the consensus estimate of $0.19, with a 67.0% year-over-year revenue increase.
• Insider trading activity includes notable sales from CEO Dave Girouard and CFO Sanjay Datta, with insiders selling 151,650 shares in the last three months, valued at approximately $9.7 million.

Blueshift Asset Management LLC increased its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 307.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,814 shares of the company's stock after buying an additional 10,425 shares during the quarter. Blueshift Asset Management LLC's holdings in Upstart were worth $636,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Virtus Fund Advisers LLC acquired a new position in Upstart during the 4th quarter worth approximately $32,000. Mackenzie Financial Corp acquired a new position in Upstart during the 4th quarter worth approximately $62,000. Ancora Advisors LLC raised its stake in Upstart by 31.3% during the 4th quarter. Ancora Advisors LLC now owns 1,575 shares of the company's stock worth $97,000 after buying an additional 375 shares during the period. GAMMA Investing LLC raised its stake in Upstart by 23.3% during the 1st quarter. GAMMA Investing LLC now owns 1,662 shares of the company's stock worth $77,000 after buying an additional 314 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of Upstart by 150.6% in the fourth quarter. NewEdge Advisors LLC now owns 1,664 shares of the company's stock worth $102,000 after purchasing an additional 1,000 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Upstart

In other news, insider Natalia Mirgorodskaya sold 6,533 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $70.06, for a total value of $457,701.98. Following the completion of the transaction, the insider directly owned 24,623 shares of the company's stock, valued at $1,725,087.38. This trade represents a 20.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $75.07, for a total value of $3,127,941.69. Following the completion of the transaction, the chief executive officer directly owned 52,614 shares of the company's stock, valued at $3,949,732.98. The trade was a 44.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 151,650 shares of company stock valued at $9,665,841 over the last three months. Company insiders own 16.67% of the company's stock.

Upstart Stock Performance

NASDAQ UPST traded down $2.52 on Friday, hitting $79.22. 6,828,452 shares of the stock traded hands, compared to its average volume of 5,279,926. The business's fifty day moving average is $66.02 and its two-hundred day moving average is $58.80. 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 $7.54 billion, a price-to-earnings ratio of -105.63 and a beta of 2.38.

Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly earnings data 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 15.27% and a negative net margin of 9.20%. The business had revenue of $213.37 million during the quarter, compared to analyst estimates of $201.08 million. During the same period in the prior year, the company earned ($0.31) earnings per share. Upstart's revenue was up 67.0% compared to the same quarter last year. Analysts expect that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Stephens assumed coverage on Upstart in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $55.00 price objective for the company. Morgan Stanley lowered their price objective 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. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price objective on shares of Upstart in a research note on Monday, May 19th. Piper Sandler raised Upstart to an "overweight" rating and set a $75.00 price objective for the company in a research note on Tuesday, June 24th. Finally, The Goldman Sachs Group raised Upstart to a "sell" rating and set a $71.00 price objective for the company in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $71.62.

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.