XTX Topco Ltd Trims Stock Position in Upstart Holdings, Inc. $UPST

XTX Topco Ltd lessened its position in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 56.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,532 shares of the company's stock after selling 5,922 shares during the period. XTX Topco Ltd's holdings in Upstart were worth $209,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Two Sigma Investments LP lifted its position in shares of Upstart by 20.1% in the 4th quarter. Two Sigma Investments LP now owns 1,922,770 shares of the company's stock worth $118,385,000 after purchasing an additional 321,366 shares during the period. Fred Alger Management LLC raised its stake in Upstart by 53.6% in the fourth quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company's stock worth $117,914,000 after buying an additional 668,282 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Upstart by 190.2% in the fourth quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company's stock worth $105,242,000 after buying an additional 1,120,300 shares during the period. Marshall Wace LLP lifted its holdings in Upstart by 300.2% in the fourth quarter. Marshall Wace LLP now owns 1,061,512 shares of the company's stock worth $65,357,000 after buying an additional 796,252 shares during the period. Finally, Northern Trust Corp boosted its position in Upstart by 16.2% during the 4th quarter. Northern Trust Corp now owns 782,557 shares of the company's stock valued at $48,182,000 after acquiring an additional 109,164 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Upstart Price Performance

NASDAQ UPST traded up $1.22 during mid-day trading on Monday, reaching $65.31. The stock had a trading volume of 1,898,744 shares, compared to its average volume of 6,315,152. The stock has a market cap of $6.28 billion, a PE ratio of -816.08 and a beta of 2.39. Upstart Holdings, Inc. has a 1 year low of $31.40 and a 1 year high of $96.43. The company has a fifty day moving average price of $70.11 and a 200 day moving average price of $59.01.

Upstart (NASDAQ:UPST - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.09. Upstart had a negative return on equity of 5.95% and a negative net margin of 0.75%. The firm had revenue of $257.29 million during the quarter, compared to analysts' expectations of $225.35 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The company's revenue was up 101.6% on a year-over-year basis. As a group, equities research analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Insider Buying and Selling at Upstart

In related news, insider Natalia Mirgorodskaya sold 6,533 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $70.06, for a total value of $457,701.98. Following the sale, the insider owned 24,623 shares in the company, valued at approximately $1,725,087.38. This trade represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $634,658.64. Following the completion of the sale, the chief financial officer directly owned 311,356 shares of the company's stock, valued at approximately $14,624,391.32. This trade represents a 4.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,650 shares of company stock worth $9,665,841. Company insiders own 16.67% of the company's stock.

Wall Street Analysts Forecast Growth

UPST has been the subject of several research reports. Stephens assumed coverage on Upstart in a research report on Thursday, June 12th. They issued an "equal weight" rating and a $55.00 target price for the company. Piper Sandler upped their price target on Upstart from $75.00 to $90.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group raised Upstart to a "sell" rating and set a $71.00 price objective for the company in a research report on Monday, July 14th. Needham & Company LLC restated a "buy" rating and set a $82.00 target price (up previously from $70.00) on shares of Upstart in a report on Wednesday, August 6th. Finally, Bank of America decreased their price target on shares of Upstart from $88.00 to $87.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. 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's stock. According to data from MarketBeat.com, Upstart has an average rating of "Hold" and an average price target of $77.85.

About Upstart

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.