Handelsbanken Fonder AB Increases Stock Position in Upstart Holdings, Inc. (NASDAQ:UPST)

Handelsbanken Fonder AB grew its holdings in shares of Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) by 30.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,400 shares of the company's stock after acquiring an additional 4,500 shares during the quarter. Handelsbanken Fonder AB's holdings in Upstart were worth $1,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ieq Capital LLC grew its position in Upstart by 10.9% in the fourth quarter. Ieq Capital LLC now owns 7,213 shares of the company's stock worth $444,000 after acquiring an additional 707 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Upstart during the fourth quarter valued at approximately $235,000. Atria Wealth Solutions Inc. raised its stake in shares of Upstart by 186.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 19,009 shares of the company's stock worth $1,170,000 after acquiring an additional 12,378 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Upstart by 20.3% in the 4th quarter. Truist Financial Corp now owns 27,113 shares of the company's stock worth $1,669,000 after acquiring an additional 4,567 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Upstart by 3.6% in the 4th quarter. Rhumbline Advisers now owns 112,147 shares of the company's stock valued at $6,905,000 after purchasing an additional 3,922 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

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Upstart Stock Down 7.6 %

Shares of NASDAQ:UPST traded down $5.05 on Monday, hitting $61.62. The company had a trading volume of 3,892,077 shares, compared to its average volume of 6,322,315. The firm's 50-day simple moving average is $67.63 and its two-hundred day simple moving average is $58.67. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of -42.20 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.

Upstart (NASDAQ:UPST - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. Equities research analysts anticipate that Upstart Holdings, Inc. will post -0.03 EPS for the current year.

Insider Activity

In related news, CTO Paul Gu sold 12,007 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 $948,793.14. Following the sale, the chief technology officer now owns 1,006,599 shares of the company's stock, valued at $79,541,452.98. The trade was a 1.18 % 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, insider Natalia Mirgorodskaya sold 794 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $1,737,254.70. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,081 shares of company stock worth $5,548,607 in the last quarter. 18.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on UPST shares. Wedbush boosted their price target on shares of Upstart from $60.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, December 2nd. BTIG Research raised Upstart from a "sell" rating to a "neutral" rating in a research note on Monday, November 11th. Bank of America raised their price target on Upstart from $33.00 to $39.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 12th. Needham & Company LLC lifted their price target on Upstart from $100.00 to $108.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised Upstart from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. Two 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $73.38.

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.