Two Sigma Advisers LP Buys 1,120,300 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Two Sigma Advisers LP boosted its holdings in Upstart Holdings, Inc. (NASDAQ:UPST) by 190.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,709,300 shares of the company’s stock after purchasing an additional 1,120,300 shares during the period. Two Sigma Advisers LP’s holdings in Upstart were worth $105,242,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in UPST. Marshall Wace LLP lifted its stake in Upstart by 300.2% in the fourth 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. Fuller & Thaler Asset Management Inc. bought a new stake in Upstart in the fourth quarter worth $43,697,000. Fred Alger Management LLC lifted its stake in Upstart by 53.6% in the fourth quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company’s stock worth $117,914,000 after purchasing an additional 668,282 shares during the last quarter. Invesco Ltd. lifted its stake in Upstart by 886.0% in the fourth quarter. Invesco Ltd. now owns 709,684 shares of the company’s stock worth $43,695,000 after purchasing an additional 637,706 shares during the last quarter. Finally, Man Group plc bought a new stake in Upstart in the fourth quarter worth $36,464,000. 63.01% of the stock is owned by institutional investors.

Insider Activity at Upstart

In related news, insider Natalia Mirgorodskaya sold 794 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were 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 of the company’s stock, valued at $1,737,254.70. The trade was a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dave Girouard sold 4,524 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.01, for a total transaction of $357,441.24. Following the sale, the chief executive officer now directly owns 52,614 shares in the company, valued at $4,157,032.14. The trade was a 7.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,395 shares of company stock worth $2,638,828 over the last 90 days. 16.67% of the stock is owned by company insiders.

Upstart Price Performance

Shares of NASDAQ UPST opened at $48.08 on Monday. Upstart Holdings, Inc. has a 1 year low of $20.60 and a 1 year high of $96.43. The company’s 50-day moving average is $46.10 and its 200 day moving average is $60.41. The stock has a market capitalization of $4.57 billion, a P/E ratio of -32.93 and a beta of 2.39.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.11. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The company had revenue of $213.37 million for the quarter, compared to analysts’ expectations of $201.08 million. During the same quarter in the previous year, the company earned ($0.31) earnings per share. Upstart’s quarterly revenue was up 67.0% on a year-over-year basis. Research analysts anticipate that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on UPST. B. Riley raised shares of Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $49.00 to $105.00 in a research note on Wednesday, February 12th. Bank of America raised shares of Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 price target for the company in a research note on Tuesday, April 29th. Barclays boosted their price objective on shares of Upstart from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Needham & Company LLC decreased their price objective on shares of Upstart from $108.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Piper Sandler decreased their price objective on shares of Upstart from $105.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.81.

Upstart 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.