Zacks Investment Management Purchases Shares of 26,742 Upstart Holdings, Inc. (NASDAQ:UPST)

Zacks Investment Management purchased a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 26,742 shares of the company's stock, valued at approximately $1,647,000.

Other hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in shares of Upstart by 3.1% in the fourth quarter. Jones Financial Companies Lllp now owns 5,511 shares of the company's stock worth $339,000 after buying an additional 167 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Upstart by 24.2% in the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock worth $54,000 after buying an additional 172 shares during the period. Bailard Inc. boosted its position in shares of Upstart by 0.5% in the fourth quarter. Bailard Inc. now owns 38,759 shares of the company's stock worth $2,386,000 after buying an additional 212 shares during the period. GAMMA Investing LLC boosted its position 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 buying an additional 224 shares during the period. Finally, KBC Group NV boosted its position in Upstart by 17.8% during the fourth quarter. KBC Group NV now owns 3,088 shares of the company's stock valued at $190,000 after purchasing an additional 467 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO Paul Gu sold 12,007 shares of Upstart stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $948,793.14. Following the completion of the sale, the chief technology officer now directly owns 1,006,599 shares of the company's stock, valued at $79,541,452.98. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sanjay Datta sold 16,070 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were 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 of the company's stock, valued at approximately $23,353,333.74. This trade represents a 5.16 % 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 worth $2,638,828 in the last three months. Insiders own 16.67% of the company's stock.

Upstart Price Performance

Shares of NASDAQ:UPST traded up $2.81 during trading on Thursday, reaching $46.79. The stock had a trading volume of 2,709,172 shares, compared to its average volume of 6,551,890. The stock has a market capitalization of $4.38 billion, a PE ratio of -32.04 and a beta of 2.39. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $96.43. The business's 50-day moving average price is $51.91 and its 200 day moving average price is $60.30.

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

Analysts Set New Price Targets

UPST has been the subject of a number of research reports. Needham & Company LLC lifted their price objective on Upstart from $100.00 to $108.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group lifted their price objective on Upstart from $13.50 to $15.00 and gave the company a "sell" rating in a research report on Wednesday, February 12th. Barclays reduced their price objective on Upstart from $93.00 to $42.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Piper Sandler reissued an "overweight" rating and set a $105.00 price objective (up previously from $85.00) on shares of Upstart in a report on Wednesday, February 12th. Finally, Citigroup boosted their target price on Upstart from $87.00 to $108.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Upstart has a consensus rating of "Hold" and an average target price of $69.46.

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.