Driehaus Capital Management LLC Purchases 250,223 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Driehaus Capital Management LLC grew its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 54.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 708,450 shares of the company's stock after purchasing an additional 250,223 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.78% of Upstart worth $43,619,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Upstart news, CEO Dave Girouard sold 4,524 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $79.01, for a total value of $357,441.24. Following the transaction, the chief executive officer now owns 52,614 shares in the company, valued at approximately $4,157,032.14. The trade was a 7.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Paul Gu sold 12,007 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $948,793.14. Following the sale, the chief technology officer now owns 1,006,599 shares of the company's stock, valued at approximately $79,541,452.98. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,395 shares of company stock valued at $2,638,828 over the last three months. 16.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UPST. Barclays lowered their price objective on Upstart from $93.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Morgan Stanley reduced their price objective on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday. B. Riley upgraded Upstart from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $49.00 to $105.00 in a research note on Wednesday, February 12th. Piper Sandler cut their target price on Upstart from $105.00 to $69.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Needham & Company LLC reduced their price objective on shares of Upstart from $108.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday. 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $63.42.

Upstart Price Performance

Upstart stock traded down $0.81 during mid-day trading on Friday, hitting $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 business has a 50 day moving average price of $46.29 and a 200-day moving average price of $60.34. Upstart Holdings, Inc. has a 12 month low of $20.60 and a 12 month high of $96.43. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of -32.27 and a beta of 2.39.

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

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.