Upstart Holdings, Inc. (NASDAQ:UPST) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC increased its holdings in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 53.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,915,121 shares of the company's stock after acquiring an additional 668,282 shares during the quarter. Upstart comprises about 0.6% of Fred Alger Management LLC's investment portfolio, making the stock its 29th biggest holding. Fred Alger Management LLC owned about 2.10% of Upstart worth $117,914,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Upstart by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company's stock valued at $479,843,000 after purchasing an additional 369,640 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Upstart by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company's stock valued at $113,711,000 after acquiring an additional 29,664 shares during the period. Renaissance Technologies LLC raised its position in shares of Upstart by 28.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,379,900 shares of the company's stock valued at $84,960,000 after purchasing an additional 308,200 shares during the period. Marshall Wace LLP raised its holdings in Upstart by 300.2% during the fourth quarter. Marshall Wace LLP now owns 1,061,512 shares of the company's stock valued at $65,357,000 after acquiring an additional 796,252 shares during the period. Finally, Northern Trust Corp boosted its stake in Upstart by 16.2% in the 4th quarter. Northern Trust Corp now owns 782,557 shares of the company's stock worth $48,182,000 after purchasing an additional 109,164 shares during the period. Institutional investors own 63.01% of the company's stock.

Upstart Trading Down 1.7 %

NASDAQ:UPST traded down $0.81 during mid-day trading on Friday, hitting $47.12. The stock had a trading volume of 7,194,712 shares, compared to its average volume of 6,738,094. The company has a market capitalization of $4.48 billion, a PE ratio of -32.27 and a beta of 2.39. The stock has a 50-day simple moving average of $46.29 and a two-hundred day simple moving average of $60.34. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43.

Upstart (NASDAQ:UPST - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.11. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The company had revenue of $213.37 million during the quarter, compared to the consensus estimate of $201.08 million. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. Upstart's revenue for the quarter was up 67.0% on a year-over-year basis. Sell-side analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

UPST has been the subject of a number of recent research reports. Morgan Stanley cut their target price on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday. The Goldman Sachs Group boosted their target price on shares of Upstart from $15.00 to $16.50 and gave the company a "sell" rating in a research note on Thursday. B. Riley upgraded Upstart from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $49.00 to $105.00 in a report on Wednesday, February 12th. Piper Sandler reduced their price target on shares of Upstart from $105.00 to $69.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Barclays decreased their price objective on Upstart from $93.00 to $42.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $63.42.

Insider Activity at Upstart

In other Upstart news, insider Natalia Mirgorodskaya sold 794 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $62,741.88. Following the transaction, the insider now owns 21,985 shares of the company's stock, valued at $1,737,254.70. This represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Dave Girouard sold 4,524 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.01, for a total transaction of $357,441.24. Following the completion of the sale, the chief executive officer now owns 52,614 shares of the company's stock, valued at approximately $4,157,032.14. The trade was a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,395 shares of company stock worth $2,638,828 over the last 90 days. Company insiders own 16.67% of the company's stock.

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.