Union Bancaire Privee UBP SA Takes $2.06 Million Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Union Bancaire Privee UBP SA bought a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 32,842 shares of the company's stock, valued at approximately $2,057,000.

Several other hedge funds have also recently bought and sold shares of UPST. ProShare Advisors LLC grew its holdings in shares of Upstart by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 19,894 shares of the company's stock worth $469,000 after purchasing an additional 6,552 shares during the period. Millennium Management LLC increased its holdings in shares of Upstart by 1,792.9% in the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company's stock valued at $6,190,000 after acquiring an additional 277,896 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Upstart by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 44,301 shares of the company's stock worth $1,045,000 after purchasing an additional 2,976 shares during the period. Algert Global LLC acquired a new position in Upstart in the second quarter valued at approximately $255,000. Finally, Newbridge Financial Services Group Inc. increased its position in Upstart by 10.4% in the second quarter. Newbridge Financial Services Group Inc. now owns 9,589 shares of the company's stock worth $226,000 after buying an additional 900 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Upstart Stock Down 3.8 %

UPST stock traded down $2.54 during midday trading on Friday, reaching $64.78. The stock had a trading volume of 2,439,764 shares, compared to its average volume of 4,013,238. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $88.95. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of -33.56 and a beta of 2.26. The business has a fifty day simple moving average of $69.08 and a two-hundred day simple moving average of $51.91.

Upstart (NASDAQ:UPST - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.31). Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. The company had revenue of $162.14 million during the quarter, compared to analyst estimates of $149.94 million. During the same period in the previous year, the company posted ($0.48) earnings per share. On average, equities analysts predict that Upstart Holdings, Inc. will post -2.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC upgraded Upstart from a "hold" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Friday, December 13th. Piper Sandler upgraded Upstart from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $31.00 to $85.00 in a research report on Friday, November 8th. Wedbush raised their price objective on shares of Upstart from $60.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, December 2nd. BTIG Research upgraded Upstart from a "sell" rating to a "neutral" rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered Upstart from a "neutral" rating to an "underweight" rating and upped their price target for the company from $45.00 to $57.00 in a research report on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Upstart currently has an average rating of "Hold" and a consensus target price of $61.80.

Insider Activity

In related news, CTO Paul Gu sold 4,019 shares of the company's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $75.00, for a total value of $301,425.00. Following the transaction, the chief technology officer now directly owns 863,065 shares in the company, valued at approximately $64,729,875. This represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $65.15, for a total transaction of $2,714,605.05. Following the completion of the sale, the chief executive officer now owns 61,512 shares of the company's stock, valued at $4,007,506.80. This trade represents a 40.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 391,035 shares of company stock valued at $26,890,777 in the last quarter. Company insiders own 18.06% of the company's stock.

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.