Bank of New York Mellon Corp Buys 58,887 Shares of Upstart Holdings, Inc. (NASDAQ:UPST)

Bank of New York Mellon Corp lifted its stake in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 27.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 274,482 shares of the company's stock after acquiring an additional 58,887 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.30% of Upstart worth $16,900,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fred Alger Management LLC boosted its stake in Upstart by 153.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company's stock worth $49,886,000 after purchasing an additional 754,416 shares during the period. Two Sigma Advisers LP boosted its stake in Upstart by 689.5% in the 3rd quarter. Two Sigma Advisers LP now owns 589,000 shares of the company's stock worth $23,566,000 after purchasing an additional 514,400 shares during the period. Tidal Investments LLC boosted its stake in Upstart by 1,413.7% in the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company's stock worth $13,342,000 after purchasing an additional 311,434 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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, Quantbot Technologies LP boosted its stake in Upstart by 416.3% in the 3rd quarter. Quantbot Technologies LP now owns 98,158 shares of the company's stock worth $3,927,000 after purchasing an additional 79,146 shares during the period. 63.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Upstart

In other Upstart news, CFO Sanjay Datta sold 16,070 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $1,269,851.40. Following the transaction, the chief financial officer now owns 295,537 shares of the company's stock, valued at $23,353,333.74. This represents a 5.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dave Girouard sold 4,524 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.01, for a total value of $357,441.24. Following the completion of the transaction, the chief executive officer now directly owns 52,614 shares in the company, valued at $4,157,032.14. This trade represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,062 shares of company stock valued at $5,247,182 in the last quarter. 18.06% of the stock is owned by insiders.

Upstart Stock Performance

NASDAQ:UPST opened at $46.65 on Wednesday. The stock's fifty day moving average is $65.91 and its 200 day moving average is $59.44. Upstart Holdings, Inc. has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The firm has a market capitalization of $4.37 billion, a PE ratio of -31.95 and a beta of 2.25.

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Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate 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.

Analysts Set New Price Targets

Several research analysts have weighed in on UPST shares. Citigroup upped their price target on Upstart from $87.00 to $108.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Wedbush upped their price target on Upstart from $60.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. raised Upstart from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $57.00 to $79.00 in a report on Wednesday, February 12th. The Goldman Sachs Group upped their price objective on Upstart from $13.50 to $15.00 and gave the stock a "sell" rating in a report on Wednesday, February 12th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $105.00 price objective (up from $85.00) on shares of Upstart in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus 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.

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