First Trust Advisors LP Has $8.21 Million Position in Upstart Holdings, Inc. (NASDAQ:UPST)

First Trust Advisors LP lowered its holdings in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 33.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,282 shares of the company's stock after selling 67,821 shares during the period. First Trust Advisors LP owned approximately 0.15% of Upstart worth $8,206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Marshall Wace LLP boosted its stake in shares of Upstart by 300.2% in the fourth quarter. Marshall Wace LLP now owns 1,061,512 shares of the company's stock valued at $65,357,000 after buying an additional 796,252 shares during the period. Invesco Ltd. lifted its position in shares of Upstart by 886.0% during the 4th quarter. Invesco Ltd. now owns 709,684 shares of the company's stock valued at $43,695,000 after acquiring an additional 637,706 shares during the period. Norges Bank acquired a new stake in shares of Upstart during the 4th quarter worth $25,158,000. Vanguard Group Inc. grew its holdings in shares of Upstart by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company's stock worth $479,843,000 after purchasing an additional 369,640 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of Upstart by 1,413.7% in the third quarter. Tidal Investments LLC now owns 333,463 shares of the company's stock worth $13,342,000 after purchasing an additional 311,434 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Upstart from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $57.00 to $79.00 in a research note on Wednesday, February 12th. Morgan Stanley upgraded shares of Upstart from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $12.00 to $70.00 in a research report on Friday, February 14th. The Goldman Sachs Group boosted their price objective on shares of Upstart from $13.50 to $15.00 and gave the company a "sell" rating in a research report on Wednesday, February 12th. B. Riley raised Upstart from a "neutral" rating to a "buy" rating and raised their target price for the company from $49.00 to $105.00 in a report on Wednesday, February 12th. Finally, Needham & Company LLC boosted their price target on Upstart from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $70.54.

Upstart Price Performance

NASDAQ UPST traded up $2.39 during trading hours on Friday, reaching $50.08. The company's stock had a trading volume of 7,624,226 shares, compared to its average volume of 6,630,836. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $96.43. The stock has a market cap of $4.76 billion, a P/E ratio of -34.30 and a beta of 2.39. The firm has a fifty day simple moving average of $47.86 and a 200-day simple moving average of $60.40.

Upstart (NASDAQ:UPST - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. On average, research analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Insider Buying and Selling

In other Upstart news, insider Natalia Mirgorodskaya sold 794 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $62,741.88. Following the sale, the insider now owns 21,985 shares of the company's stock, valued at approximately $1,737,254.70. This represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sanjay Datta sold 16,070 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $1,269,851.40. Following the sale, the chief financial officer now owns 295,537 shares in the company, valued at approximately $23,353,333.74. The trade was a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,395 shares of company stock valued at $2,638,828 over the last ninety days. 16.67% of the stock is owned by company insiders.

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.