Blueshift Asset Management LLC Purchases New Stake in Upstart Holdings, Inc. (NASDAQ:UPST)

Blueshift Asset Management LLC purchased a new stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the 4th quarter, Holdings Channel reports. The fund purchased 3,389 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds also recently bought and sold shares of UPST. Fred Alger Management LLC increased its position in Upstart by 153.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after purchasing an additional 754,416 shares during the last quarter. Two Sigma Advisers LP increased its position in Upstart by 689.5% in the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after purchasing an additional 514,400 shares during the last quarter. Tidal Investments LLC increased its position in Upstart by 1,413.7% in the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock worth $13,342,000 after purchasing an additional 311,434 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in Upstart in the 4th quarter worth about $14,278,000. Finally, AGF Management Ltd. acquired a new position in Upstart in the 4th quarter worth about $5,734,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 794 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $62,741.88. Following the completion of the sale, the insider now owns 21,985 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, CFO Sanjay Datta sold 16,070 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 295,537 shares of the company’s stock, valued at approximately $23,353,333.74. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,062 shares of company stock worth $5,247,182. 18.06% of the stock is currently owned by company insiders.

Upstart Stock Up 4.5 %

Shares of NASDAQ:UPST opened at $51.96 on Friday. The business has a 50 day moving average price of $64.09 and a 200 day moving average price of $59.72. Upstart Holdings, Inc. has a twelve month low of $20.60 and a twelve month high of $96.43. The company has a market cap of $4.87 billion, a price-to-earnings ratio of -35.59 and a beta of 2.25.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data 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 anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on UPST. The Goldman Sachs Group upped their target price on Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. Barclays upped their price target on Upstart from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 18th. Needham & Company LLC upped their price target on Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $105.00 in a research note on Wednesday, February 12th. Finally, Wedbush upped their price target on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Upstart currently 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.