Schonfeld Strategic Advisors LLC Acquires 33,465 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Schonfeld Strategic Advisors LLC boosted its stake in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 273.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,725 shares of the company's stock after buying an additional 33,465 shares during the quarter. Schonfeld Strategic Advisors LLC owned approximately 0.05% of Upstart worth $2,815,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. bought a new position in Upstart in the 4th quarter valued at $31,000. Farther Finance Advisors LLC boosted its position in shares of Upstart by 24.2% during the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock worth $54,000 after purchasing an additional 172 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Upstart by 19.9% in the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock worth $83,000 after acquiring an additional 224 shares in the last quarter. Blue Trust Inc. raised its holdings in Upstart by 49.1% during the 4th quarter. Blue Trust Inc. now owns 1,475 shares of the company's stock worth $91,000 after buying an additional 486 shares during the period. Finally, R Squared Ltd acquired a new position in Upstart in the 4th quarter worth $96,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on UPST shares. Barclays cut their price target on shares of Upstart from $93.00 to $42.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. raised Upstart from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $57.00 to $79.00 in a report on Wednesday, February 12th. Bank of America upgraded Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price target for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group raised their price target on shares of Upstart from $13.50 to $15.00 and gave the company a "sell" rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley reduced their price objective on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $63.31.

Insider Activity at Upstart

In related news, CFO Sanjay Datta sold 16,070 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $1,269,851.40. Following the completion of the sale, the chief financial officer now directly owns 295,537 shares in the company, valued at $23,353,333.74. This trade represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Paul Gu sold 12,007 shares of the business'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 $948,793.14. Following the transaction, the chief technology officer now 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 sold 33,395 shares of company stock valued at $2,638,828. 16.67% of the stock is owned by corporate insiders.

Upstart Stock Performance

Shares of NASDAQ UPST traded down $4.96 during midday trading on Wednesday, reaching $46.44. The stock had a trading volume of 23,967,940 shares, compared to its average volume of 6,746,376. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $96.43. The stock has a 50-day moving average of $46.81 and a 200-day moving average of $60.33. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of -31.81 and a beta of 2.39.

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. The firm had revenue of $213.37 million for the quarter, compared to analysts' expectations of $201.08 million. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The company's revenue for the quarter was up 67.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.31) earnings per share. As a group, analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

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.