Northern Trust Corp Acquires 109,164 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Northern Trust Corp boosted its stake in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 16.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 782,557 shares of the company's stock after acquiring an additional 109,164 shares during the period. Northern Trust Corp owned 0.86% of Upstart worth $48,182,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of Upstart by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $83,000 after purchasing an additional 224 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Upstart during the 4th quarter valued at approximately $313,000. Harbor Capital Advisors Inc. raised its position in shares of Upstart by 12.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 11,721 shares of the company's stock worth $722,000 after acquiring an additional 1,303 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of Upstart in the 4th quarter valued at approximately $219,000. Finally, Merit Financial Group LLC bought a new stake in shares of Upstart during the fourth quarter valued at approximately $271,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Upstart Trading Down 1.7 %

NASDAQ:UPST traded down $0.81 during mid-day trading on Friday, reaching $47.12. The company's stock had a trading volume of 7,194,712 shares, compared to its average volume of 6,738,094. The firm's fifty day moving average price is $46.29 and its two-hundred day moving average price is $60.34. The stock has a market cap of $4.48 billion, a P/E ratio of -32.27 and a beta of 2.39. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $96.43.

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

Wall Street Analyst Weigh In

Several brokerages have commented on UPST. Bank of America raised Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price objective for the company in a research report on Tuesday, April 29th. Piper Sandler cut their price objective on shares of Upstart from $105.00 to $69.00 and set an "overweight" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of Upstart from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $57.00 to $79.00 in a report on Wednesday, February 12th. Citigroup upped their price target on Upstart from $87.00 to $108.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, B. Riley upgraded Upstart from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $49.00 to $105.00 in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $63.42.

Insiders Place Their Bets

In other news, CEO Dave Girouard sold 4,524 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.01, for a total value of $357,441.24. Following the completion of the transaction, the chief executive officer now owns 52,614 shares of the company's stock, valued at $4,157,032.14. This represents a 7.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Paul Gu sold 12,007 shares of Upstart stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $948,793.14. Following the sale, the chief technology officer now directly owns 1,006,599 shares in the company, valued at $79,541,452.98. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,395 shares of company stock worth $2,638,828. Company insiders own 16.67% of the company's stock.

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.