Versor Investments LP Takes $640,000 Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Versor Investments LP purchased a new position in Upstart Holdings, Inc. (NASDAQ:UPST) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,400 shares of the company’s stock, valued at approximately $640,000.

A number of other hedge funds have also bought and sold shares of UPST. Fred Alger Management LLC lifted its holdings in Upstart by 153.2% in the third 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 last quarter. Two Sigma Advisers LP lifted its holdings in 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 acquiring an additional 514,400 shares during the last quarter. Tidal Investments LLC lifted its holdings in Upstart by 1,413.7% in the third quarter. Tidal Investments LLC now owns 333,463 shares of the company’s stock worth $13,342,000 after acquiring an additional 311,434 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Upstart by 63.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after acquiring an additional 282,481 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in Upstart by 416.3% in the third quarter. Quantbot Technologies LP now owns 98,158 shares of the company’s stock worth $3,927,000 after acquiring an additional 79,146 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Upstart Stock Performance

Upstart stock opened at $66.67 on Friday. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of -45.66 and a beta of 2.25. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $96.43. The firm’s 50 day moving average price is $67.63 and its two-hundred day moving average price is $58.37.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) 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%. As a group, equities analysts predict that Upstart Holdings, Inc. will post -0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Natalia Mirgorodskaya sold 794 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 21,985 shares in the company, valued at $1,737,254.70. The trade was a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were 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 owns 57,138 shares in the company, valued at approximately $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. In the last three months, insiders have sold 167,181 shares of company stock worth $11,664,466. Corporate insiders own 18.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on UPST shares. Piper Sandler reissued an “overweight” rating and issued a $105.00 target price (up previously from $85.00) on shares of Upstart in a report on Wednesday, February 12th. Barclays lifted their price target on Upstart from $80.00 to $93.00 and gave the company an “equal weight” rating in a report on Tuesday, February 18th. Bank of America lifted their price target on Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a report on Wednesday, February 12th. Citigroup lifted their price target on Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group boosted their target price on Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.38.

Upstart Company 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.