Voleon Capital Management LP Makes New Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

Voleon Capital Management LP acquired a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,706 shares of the company's stock, valued at approximately $1,460,000.

A number of other large investors have also recently bought and sold shares of UPST. Tidal Investments LLC boosted its position in Upstart by 1,413.7% during the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company's stock valued at $13,342,000 after purchasing an additional 311,434 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Upstart by 19.9% during the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $83,000 after acquiring an additional 224 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Upstart during the fourth quarter valued at $313,000. Harbor Capital Advisors Inc. increased its holdings 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 during the period. Finally, Wealthcare Advisory Partners LLC acquired a new stake in shares of Upstart in the 4th quarter worth about $219,000. Institutional investors own 63.01% of the company's stock.

Upstart Price Performance

Shares of UPST traded up $2.39 during mid-day trading on Friday, hitting $50.08. The company's stock had a trading volume of 7,624,226 shares, compared to its average volume of 6,640,153. The firm has a 50-day moving average price of $47.86 and a 200 day moving average price of $60.44. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -34.30 and a beta of 2.39.

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

Insider Activity at Upstart

In other 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 owns 295,537 shares of the company's stock, 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 SEC, which is available at this link. Also, CTO Paul Gu sold 12,007 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 $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 represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,395 shares of company stock worth $2,638,828 in the last quarter. 16.67% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on UPST shares. B. Riley upgraded shares of Upstart from a "neutral" rating to a "buy" rating and upped their target price for the stock from $49.00 to $105.00 in a research report on Wednesday, February 12th. The Goldman Sachs Group raised their target price on Upstart from $13.50 to $15.00 and gave the company a "sell" rating in a research report on Wednesday, February 12th. Needham & Company LLC boosted their price target on Upstart from $100.00 to $108.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Bank of America raised Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price target on the stock in a report on Tuesday, April 29th. Finally, Barclays reduced their price objective on shares of Upstart from $93.00 to $42.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $70.54.

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.