Zacks Investment Management Makes New $1.65 Million Investment in Upstart Holdings, Inc. (NASDAQ:UPST)

Zacks Investment Management bought a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,742 shares of the company’s stock, valued at approximately $1,647,000.

A number of other large investors also recently modified their holdings of UPST. Vanguard Group Inc. raised its stake in Upstart by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company’s stock worth $479,843,000 after acquiring an additional 369,640 shares during the period. Geode Capital Management LLC grew its holdings in shares of Upstart by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company’s stock valued at $113,711,000 after purchasing an additional 29,664 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Upstart by 28.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,379,900 shares of the company’s stock worth $84,960,000 after purchasing an additional 308,200 shares during the period. Marshall Wace LLP lifted its holdings in shares of Upstart by 300.2% in the 4th quarter. Marshall Wace LLP now owns 1,061,512 shares of the company’s stock worth $65,357,000 after purchasing an additional 796,252 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Upstart by 886.0% during the 4th quarter. Invesco Ltd. now owns 709,684 shares of the company’s stock valued at $43,695,000 after purchasing an additional 637,706 shares during the period. 63.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Dave Girouard sold 4,524 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.01, for a total transaction of $357,441.24. Following the completion of the sale, the chief executive officer now directly owns 52,614 shares of the company’s stock, valued at $4,157,032.14. This trade represents a 7.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Natalia Mirgorodskaya sold 794 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 value of $62,741.88. Following the completion of the transaction, the insider now owns 21,985 shares in the company, valued at $1,737,254.70. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,395 shares of company stock worth $2,638,828. Corporate insiders own 18.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Bank of America raised their target price on Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 price target (up previously from $85.00) on shares of Upstart in a 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. Finally, The Goldman Sachs Group lifted their target price on Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Upstart presently has an average rating of “Hold” and an average target price of $69.46.

Upstart Stock Performance

UPST opened at $40.92 on Friday. The company has a market capitalization of $3.83 billion, a PE ratio of -28.03 and a beta of 2.39. The stock’s fifty day moving average is $54.50 and its 200-day moving average is $60.26. Upstart Holdings, Inc. has a one year low of $20.60 and a one year 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, beating 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%. On average, equities research analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

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.