Los Angeles Capital Management LLC Buys 22,946 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Los Angeles Capital Management LLC grew its position in shares of Upstart Holdings, Inc. (NASDAQ:UPST) by 274.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,298 shares of the company’s stock after buying an additional 22,946 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Upstart were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tyler Stone Wealth Management increased its position in Upstart by 94.1% during the third quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock valued at $2,222,000 after acquiring an additional 26,917 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Upstart during the 3rd quarter valued at about $939,000. Quadrature Capital Ltd bought a new position in shares of Upstart in the 3rd quarter worth approximately $676,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Upstart by 63.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after purchasing an additional 282,481 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in Upstart during the fourth quarter valued at approximately $2,057,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO Paul Gu sold 87,600 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $69.39, for a total transaction of $6,078,564.00. Following the completion of the transaction, the chief technology officer now directly owns 863,065 shares in the company, valued at approximately $59,888,080.35. This represents a 9.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 57,138 shares of the company’s stock, valued at approximately $3,576,838.80. This trade represents a 42.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 167,181 shares of company stock worth $11,664,466 over the last 90 days. Corporate insiders own 18.06% of the company’s stock.

Wall Street Analyst Weigh In

UPST has been the subject of a number of research reports. Morgan Stanley raised shares of Upstart from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $12.00 to $70.00 in a report on Friday, February 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price (up from $85.00) on shares of Upstart in a report on Wednesday, February 12th. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Barclays upped their price target on Upstart from $80.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group lifted their price objective on Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Upstart currently has a consensus rating of “Hold” and an average target price of $73.38.

Upstart Price Performance

UPST stock opened at $66.67 on Friday. The company has a market capitalization 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 business has a 50 day simple moving average of $67.63 and a two-hundred day simple moving average of $58.37.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, beating 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%. Sell-side analysts anticipate 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.