SLT Holdings LLC Makes New Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

SLT Holdings LLC acquired a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,250 shares of the company’s stock, valued at approximately $200,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Banco Santander S.A. bought a new stake in Upstart during the 4th quarter worth about $924,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Upstart during the 4th quarter worth about $109,000. Arizona State Retirement System boosted its stake in shares of Upstart by 2.6% in the 4th quarter. Arizona State Retirement System now owns 22,061 shares of the company’s stock valued at $1,358,000 after purchasing an additional 552 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Upstart in the 4th quarter valued at about $1,000,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Upstart in the 4th quarter valued at about $1,986,000. Institutional investors own 63.01% of the company’s stock.

Insider Transactions at Upstart

In other news, insider Natalia Mirgorodskaya sold 794 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $62,741.88. Following the completion of the transaction, the insider now directly owns 21,985 shares of the company’s stock, valued at $1,737,254.70. This trade represents a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the transaction, the chief executive officer now directly owns 57,138 shares of the company’s stock, valued at $3,576,838.80. This represents a 42.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,062 shares of company stock valued at $5,247,182 in the last ninety days. 18.06% of the stock is currently owned by corporate insiders.

Upstart Stock Performance

Shares of UPST stock opened at $53.69 on Friday. The company has a market capitalization of $5.03 billion, a P/E ratio of -36.77 and a beta of 2.25. The company’s 50 day moving average price is $66.53 and its two-hundred day moving average price is $59.22. Upstart Holdings, Inc. has a 52 week low of $20.60 and a 52 week high of $96.43.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share 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%. Analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on UPST shares. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price (up previously from $85.00) on shares of Upstart in a research note on Wednesday, February 12th. The Goldman Sachs Group increased their price target on shares of Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and increased their price target for the company from $57.00 to $79.00 in a research report on Wednesday, February 12th. B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $105.00 in a research report on Wednesday, February 12th. Finally, Wedbush increased their price target on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Upstart presently has a consensus rating of “Hold” and a consensus price target of $73.38.

About Upstart

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.