Virtu Financial LLC Makes New $486,000 Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

Virtu Financial LLC purchased a new stake in Upstart Holdings, Inc. (NASDAQ:UPST) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,895 shares of the company’s stock, valued at approximately $486,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fred Alger Management LLC increased its stake in Upstart by 153.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after acquiring an additional 754,416 shares during the period. Two Sigma Advisers LP increased its position in shares of Upstart by 689.5% in the third 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 period. Tidal Investments LLC raised its stake in Upstart by 1,413.7% in the third 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 in the last quarter. Wealthfront Advisers LLC bought a new stake in Upstart during the fourth quarter worth about $14,278,000. Finally, AGF Management Ltd. acquired a new stake in Upstart during the fourth quarter worth about $5,734,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Upstart Price Performance

NASDAQ:UPST opened at $55.00 on Wednesday. Upstart Holdings, Inc. has a one year low of $20.60 and a one year high of $96.43. The company has a market cap of $5.15 billion, a PE ratio of -37.67 and a beta of 2.25. The firm’s 50 day simple moving average is $64.01 and its 200 day simple moving average is $60.17.

Upstart (NASDAQ:UPST) last issued 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 net margin of 20.20% and a negative return on equity of 25.87%. Equities research analysts expect that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on UPST. B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and boosted their target price for the company from $49.00 to $105.00 in a research report on Wednesday, February 12th. Citigroup boosted their price objective on shares of Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and raised their target price for the company from $57.00 to $79.00 in a report on Wednesday, February 12th. The Goldman Sachs Group boosted their price target on Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. Finally, Wedbush lifted their target price on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.38.

Insider Buying and Selling at Upstart

In other news, insider Natalia Mirgorodskaya sold 794 shares of the business’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 value of $62,741.88. Following the transaction, the insider now owns 21,985 shares in the company, valued at approximately $1,737,254.70. The trade was a 3.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sanjay Datta sold 16,070 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $1,269,851.40. Following the sale, the chief financial officer now 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. In the last quarter, insiders have sold 75,062 shares of company stock worth $5,247,182. Insiders own 18.06% of the company’s stock.

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.