Olympiad Research LP Purchases New Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Olympiad Research LP purchased a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) during the third quarter, Holdings Channel reports. The institutional investor purchased 8,660 shares of the company’s stock, valued at approximately $346,000.

A number of other hedge funds have also modified their holdings of UPST. Millennium Management LLC raised its position 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 period. International Assets Investment Management LLC raised its holdings in Upstart by 4,087.8% during the 3rd quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock worth $9,333,000 after buying an additional 227,688 shares during the period. Seven Eight Capital LP raised its holdings in Upstart by 349.1% during the 1st quarter. Seven Eight Capital LP now owns 189,385 shares of the company’s stock worth $5,093,000 after buying an additional 147,213 shares during the period. SG Americas Securities LLC raised its holdings in Upstart by 442.1% during the 2nd quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock worth $3,496,000 after buying an additional 120,871 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Upstart by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock worth $191,698,000 after buying an additional 115,057 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Upstart

In other Upstart news, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction on Monday, October 21st. The shares were sold at an average price of $53.81, for a total transaction of $80,715.00. Following the completion of the transaction, the chief financial officer now directly owns 335,593 shares of the company’s stock, valued at $18,058,259.33. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Upstart news, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction on Monday, October 21st. The shares were sold at an average price of $53.81, for a total transaction of $80,715.00. Following the completion of the transaction, the chief financial officer now directly owns 335,593 shares of the company’s stock, valued at $18,058,259.33. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,264 shares of Upstart stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total transaction of $48,487.04. Following the transaction, the insider now directly owns 24,557 shares of the company’s stock, valued at approximately $942,006.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 312,959 shares of company stock valued at $13,724,175. 18.06% of the stock is owned by corporate insiders.

Upstart Price Performance

NASDAQ:UPST opened at $55.47 on Friday. Upstart Holdings, Inc. has a 1-year low of $19.84 and a 1-year high of $57.40. The firm has a fifty day simple moving average of $43.56 and a 200 day simple moving average of $32.83.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.22. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The business had revenue of $127.63 million during the quarter, compared to analysts’ expectations of $124.55 million. During the same period last year, the business earned ($0.34) earnings per share. The firm’s revenue was down 6.0% on a year-over-year basis. As a group, equities research analysts predict that Upstart Holdings, Inc. will post -2.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on UPST shares. JPMorgan Chase & Co. raised their target price on shares of Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Barclays raised their target price on shares of Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Wedbush upgraded shares of Upstart from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $10.00 to $45.00 in a report on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Finally, Citigroup upgraded shares of Upstart from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $15.00 to $33.00 in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Upstart has a consensus rating of “Hold” and a consensus target price of $31.50.

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.