Tower Research Capital LLC TRC Decreases Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

Tower Research Capital LLC TRC trimmed its position in Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 65.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,372 shares of the company's stock after selling 8,409 shares during the period. Tower Research Capital LLC TRC's holdings in Upstart were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in shares of Upstart by 300.2% during the fourth quarter. Marshall Wace LLP now owns 1,061,512 shares of the company's stock worth $65,357,000 after purchasing an additional 796,252 shares during the last quarter. Invesco Ltd. lifted its holdings in Upstart by 886.0% in the fourth 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 approximately $25,158,000. Vanguard Group Inc. increased 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 valued at $479,843,000 after purchasing an additional 369,640 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Upstart by 28.8% in 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. Hedge funds and other institutional investors own 63.01% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup lifted their price objective on shares of Upstart from $87.00 to $108.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Piper Sandler reiterated an "overweight" rating and set a $105.00 price target (up previously from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. Morgan Stanley upgraded Upstart from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $12.00 to $70.00 in a research report on Friday, February 14th. JPMorgan Chase & Co. raised shares of Upstart from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. Finally, Bank of America upgraded shares of 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. One 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $70.54.

Insider Activity

In related news, CFO Sanjay Datta sold 16,070 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 295,537 shares in the company, valued at approximately $23,353,333.74. This represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Natalia Mirgorodskaya sold 794 shares of Upstart stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $62,741.88. Following the completion of the sale, the insider now owns 21,985 shares in the company, valued at $1,737,254.70. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,395 shares of company stock valued at $2,638,828 in the last 90 days. Company insiders own 16.67% of the company's stock.

Upstart Stock Performance

NASDAQ:UPST opened at $50.08 on Friday. The stock has a 50 day moving average price of $47.86 and a 200 day moving average price of $60.44. The stock has a market cap of $4.76 billion, a PE ratio of -34.30 and a beta of 2.39. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $96.43.

Upstart (NASDAQ:UPST - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. As a group, analysts predict that Upstart Holdings, Inc. will post -0.03 earnings per share 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.

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