ExodusPoint Capital Management LP Takes Position in Upstart Holdings, Inc. (NASDAQ:UPST)

ExodusPoint Capital Management LP acquired a new position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 65,992 shares of the company’s stock, valued at approximately $4,063,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UPST. Trexquant Investment LP raised its holdings in shares of Upstart by 43.3% during the 4th quarter. Trexquant Investment LP now owns 596,389 shares of the company’s stock worth $36,720,000 after acquiring an additional 180,204 shares during the period. Geode Capital Management LLC boosted its holdings in Upstart by 1.6% in the 4th 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. O Shaughnessy Asset Management LLC purchased a new stake in shares of Upstart in the 4th quarter valued at approximately $321,000. Pictet Asset Management Holding SA increased its holdings in shares of Upstart by 20.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 10,326 shares of the company’s stock worth $636,000 after buying an additional 1,749 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Upstart during the 4th quarter valued at approximately $25,158,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on UPST. Morgan Stanley raised Upstart from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $12.00 to $70.00 in a research note on Friday, February 14th. Bank of America boosted their price objective on shares of Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a report on Wednesday, February 12th. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 target price (up previously from $85.00) on shares of Upstart in a research note on Wednesday, February 12th. Citigroup boosted their price target on shares of Upstart from $87.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group increased their price objective on shares of Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.38.

Insider Activity

In other news, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 57,138 shares in the company, valued at approximately $3,576,838.80. The trade was a 42.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $62,741.88. Following the sale, the insider now owns 21,985 shares in the company, valued at $1,737,254.70. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,062 shares of company stock worth $5,247,182. 18.06% of the stock is currently owned by corporate insiders.

Upstart Trading Down 10.1 %

NASDAQ:UPST opened at $34.80 on Monday. Upstart Holdings, Inc. has a 12-month low of $20.60 and a 12-month high of $96.43. The firm has a market cap of $3.26 billion, a PE ratio of -23.84 and a beta of 2.39. The stock has a fifty day moving average price of $60.87 and a 200 day moving average price of $60.69.

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%. Equities analysts forecast that Upstart Holdings, Inc. will post -0.03 EPS for the current 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.